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Tuesday, December 02, 2008

Pioneering Download Site CinemaNow: Worth Just $3 Million

(Of course I didn't abandon my beloved CinemaTech... just took a long Thanksgiving vacation.)

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.

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