Will Blockbuster buy Movielink?
p2pnet.net news:- Movielink, the would-be corporate movie download site, may be sold to Blockbuster, say reports.
The deal, “including long-term contracts with Hollywood’s major studios to supply films and TV shows, for under $50 million in cash and stock, a source familiar with the situation said,” according to Reuters.
Last summer, Movielinkââ¬â¢s studio backers reportedly rejected a $70 million offer from Blockbuster, says Video Business, quoting The Wall Street Journal, and going on:
“Blockbuster has said it plans to enter the download business. The retailer is already an investor in Movielink rival CinemaNow.”
While the proposed deal is small, “it has important strategic implications,” says The Wall Street Journal.
“For Blockbuster, it represents a quick way into the online download business. Movielink has quietly peddled films online since 2002, with little success.
Also See:
Reuters – Blockbuster in talks to buy Movielink-source, February 28, 2007
Video Business – Blockbuster in talks to buy Movielink, March 1, 2007
The Wall Street Journal – Blockbuster in Talks To Acquire Movielink, February 28, 2007
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March 1st, 2007 at 1:41 pm
Notice the LAST sentance….Movielink has quietly peddled films online since 2002, with little success.
WITH LITTLE SUCCESS! That just said it all.
Movielink has been at it a while…as have been a lot of other “legal” download sites….but most have very small incomes….so what makes blockbuster think it can do any better?
Just because you have the name Blockbuster, is no guarantee that you will be successful……just ask the folks that ran the “legal” version of NAPSTER!