The Blog for Video 2.0
Friday, December 7, 2007
Movie Gallery closing MovieBeam download service
Video Business is reporting that Movie Gallery confirmed it will close its MovieBeam set-top box download service on Dec. 15.
The video chain acquired MovieBeam earlier this year from the Walt Disney Co. and others investors. Movie Gallery said the initial acquisition cost plus any ongoing development expenses would amount to less than $10 million this year.
The previous investors had spent more than $100 million on the service.
Movie Gallery filed for bankruptcy protection in October.
The video chain acquired MovieBeam earlier this year from the Walt Disney Co. and others investors. Movie Gallery said the initial acquisition cost plus any ongoing development expenses would amount to less than $10 million this year.
The previous investors had spent more than $100 million on the service.
Movie Gallery filed for bankruptcy protection in October.
Labels: bankruptcy, movie downloads
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