Thursday, August 9, 2007
Blockbuster Acquires Movielink
Dallas, Texas-based video rental chain Blockbuster said Wednesday evening that it has acquired California-based Movielink, a provider of video on demand movie rentals and download-to-own movies. Financial terms were not disclosed. Movielink was a joint venture of Metro-Goldwyn-Mayer Studios, Paramount Pictures, Sony Pictures Entertainment, Universal Studios and Warner Bros. In discussing the deal, Blockbuster said that the acquisition was the next logical step in a planned transformation of the firm, and follows the addition of mail rentals to Blockbuster's stores. Blockbuster said it will continue to operate the Movielink service and will eventually make the service available through its web site.