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Sonic acquires CinemaNow

Written by Andre Yoskowitz (Google+) @ 20 Nov 2008 23:58

Sonic acquires CinemaNow Sonic Solutions announced yesterday that they had purchased the assets of streaming movie provider CinemaNow. None of the financial details were disclosed.
The new agreement will combine CinemaNow's online movie business with Sonic's Qflix team, the new technology that allows users to download movies legally through CinemaNow then burn them to DVD using special drives and discs.

The combined division will be known as Sonic's Premium Content Group for now on.

Qflix was first announced in 2007 after Sonic signed a deal with Pioneer but the first drives were not released until recently.

Sonic's shares have plummeted in recent months, from a high of $11 USD in as late as May to $0.74 cents today.

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