Movielink, of Santa Monica, launched in 2001 and became the first service to offer legal downloadable movies and TV shows.
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":22246,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,","session":"C"}']The price was a mere $20 million, according to WSJ, suggesting this was a fire sale — and a significant loss for its former owners, who had pumped $100 million into the effort.
Blockbuster is acquiring rights to show the films of Movielink’s previous owners, which include Warner Brothers Studios, Metro-Goldwyn-Mayer and Paramount Pictures, according to various news reports. Financial terms were not disclosed. The company’s other owners included General Electric’s movie unit Universal Studios and Sony Pictures Entertainment. Blockbuster is also an investor in a CinemaNow, which has thousands of film, TV and concert titles, and offers streaming videos, which Movielink does not.
AI Weekly
The must-read newsletter for AI and Big Data industry written by Khari Johnson, Kyle Wiggers, and Seth Colaner.
Included with VentureBeat Insider and VentureBeat VIP memberships.
Netflix, Apple, Amazon.com and Wal-Mart Stores have all introduced movie download services.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn More