Pioneering Download Site CinemaNow: Worth Just $3 Million
Feels important to note that earlier this month, the pioneering digital download site CinemaNow was sold for a piddling $3 million to Sonic Solutions, a company that makes DVD-burning software. Founded in 1999 (before Movielink, and way before iTunes), CinemaNow had raised more than $30 million. Lionsgate Entertainment had been the main investor in the company, which offered rentals, downloads, and also the ability to burn some movies to a DVD.
Earlier this year, Curt Marvis, the long-time head of CinemaNow, shifted over to a digital media gig at Lionsgate.
Here's the official press release.