Movie Gallery buys MovieBeam |
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Wed, 07 Mar 2007 14:52
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DOTHAN, Ala. (AP) - Video rental company Movie Gallery Inc. said Wednesday it bought MovieBeam Inc., an on-demand movie service, for an undisclosed sum.The company said the purchase will help deliver content digitally and drive sales growth. Movie Gallery added that MovieBeam's technology will be 'instrumental' in its plans to digitize and deliver content to customers using new mediums such as downloads, streaming over the Internet, IP-based content delivery and 'other developing channels.'Movie Gallery owns its namesake chain as well as Hollywood Video stores.The company said related acquisition costs and development expenses will total less than $10 million in 2007.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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