., ▁Fl at ir on ▁Part ners , ▁Ch ase ▁Capital ▁Part ners ▁and ▁ 1 st Up . com . ▁ ▁On ▁August ▁ 5 , ▁ 2 0 0 1 , ▁after ▁a ▁disag re ement ▁with ▁the ▁Board ▁regarding ▁the ▁strateg ic ▁direction ▁of ▁the ▁company , ▁Esp uel as ▁res igned ▁as ▁CE O ▁of ▁Star Media ▁but ▁agreed ▁to ▁stay ▁on ▁as ▁Chair man ▁until ▁November ▁ 1 5 , ▁ 2 0 0 1 ▁ ▁to ▁effect ▁an ▁order ly ▁management ▁transition . ▁At ▁that ▁time , ▁he ▁was ▁replaced ▁by ▁Susan ▁Seg al ▁as ▁head ▁of ▁the ▁company ; ▁Seg al ▁was ▁a ▁vent ure ▁capital ist , ▁representing ▁Ch ase ▁Manh attan ▁Bank ' s ▁Ch ase ▁Capital ▁Part ners , ▁which ▁had ▁given ▁St arm edia ▁its ▁first ▁round ▁of ▁institution al ▁finan cing ▁in ▁ 1 9 9 7 . ▁Seg al ▁then ▁led ▁the ▁company ' s ▁new ▁strategy ▁to ▁div est ▁itself ▁of ▁its ▁market ▁leading ▁portal ▁assets , ▁including ▁the ▁Star Media ▁brand ▁and ▁network ▁of ▁websites , ▁and ▁focus ▁the ▁company ▁on ▁its ▁mobile ▁unit , ▁Star Media ▁Mobile . ▁The ▁resulting ▁new ▁company , ▁Cy cle logic , ▁was ▁led ▁by ▁Seg al ▁until ▁it ▁file d ▁for ▁bank rupt cy ▁in ▁ 2 0 0 3 . ▁ ▁As ▁part ▁of ▁Seg al ' s ▁new ▁strategy , ▁in ▁July ▁ 2 0 0 2 , ▁Star Media ▁was ▁sold ▁for ▁$ 8 ▁million ▁to ▁E res