CinemaNow, the transactional video on demand (TVOD) service once owned by Best Buy, is being acquired by FilmOn for an undisclosed amount.
CinemaNow will continue to operate its direct-to-consumer transactional video-on-demand business, which offers 55,000 premium movies and TV episodes to rent or own from studios including Disney, 20th Century Fox, NBCUniversal, Lionsgate, eOne, Paramount Pictures, Sony Pictures Entertainment and Warner Bros., Variety reports.
CinemaNow has a storied history as one of the earliest transactional services available online. Founded in 1999 by a group including Cisco, Microsoft (NASDAQ: MSFT) and EchoStar, it was initially sold to Sonic Solutions, which in 2009 made a deal with Best Buy to make it the retailer's online entertainment brand. For more on FilmOn's plans, check out this FierceOnlineVideo article.