Blockbuster May Buy Movielink - News

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Blockbuster may Buy Movielink: WSJ

Topics:Movies & Film Studios

Companies:Apple Inc | Wal-Mart Stores Inc | Blockbuster Inc

By: Reuters | 01 Mar 2007 | 04:05 AM ET

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Movie-rental company Blockbuster [BBI Loading... () ] is in advanced talks to acquire Movielink, an online movie-downloading company owned by the major Hollywood studios, the Wall Street Journal said on Thursday, citing people familiar with the matter.

The price was said to be less than $50 million in cash and stock but the deal would give Blockbuster a quick way into the online downloads business and bring much-needed marketing muscle to Movielink's efforts to increase market share now that big players like Apple's [AAPL Loading... () ] iTunes and Wal-Mart Stores [WMT Loading... () ] have jumped into the fray, the paper said.

Movielink is owned by a joint venture of Metro-Goldwyn-Mayer Studios, Paramount Pictures, Sony Pictures Entertainment, Universal Studios and Warner Bros.

No one at Blockbuster or Movielink could immediately be reached for comment.

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