FilmOn said it has inked a deal to acquire CinemaNow, a digital video storefront that has changed hands over the years, from Regent Equity Partners.
Financial terms were not disclosed, but FilmOn said CinemaNow will continue operations and offer on-demand, transactional access to movies and TV shows for purchase and rental from studios such as 20th Century Fox, NBC Universal, Lionsgate, eOne, Paramount Pictures, Sony Pictures, Warner Bros. and The Walt Disney Company.
FilmOn CEO Alki David announced the appointment of former Rovi Corp., Paramount Pictures and NBCUniversal exec Donna Smith as president of CinemaNow. FilmOn said chief strategy officer David Goldsmith will spearhead integration of the FilmOn andCinemaNow platforms, and chief content officer and former DirecTV exec Kim Hurwitz has been tapped to bring FilmOn content to CinemaNow.
CinemaNow, an electronic sell-through company founded in 1999, presently has a digital library of 55,000 titles and supports platforms such as Roku, PlayStation and Xbox consoles and iOS mobile devices, among others.
"We are very excited about the addition of CinemaNow,” said David, in a statement. “Our goal has always been to advance legal access to great content for the benefit of the consumer. Now we’re working with all the major studios and broadcasters to build the future of entertainment together.”
He said the CinemaNow deal will be the “first of many substantial acquisitions FilmOn TV Networks will make in 2016.”
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