CinemaNow or never: Rovi puts its digital movie store up for sale

authorchuks:

It is a fractional ability to have such money and allowed some half minded persons to feed fat of it.

Originally posted on Gigaom:

After having spent $720 million on it two years ago, Rovi (s ROVI) announced Thursday that it intends to sell its Rovi Entertainment Store digital video platform, which was formerly known as CinemaNow.

The company said that it has retained GCA Savvian Advisorsto to facilitate the sale. It didn’t disclose all the assets to be included in the sale, but a spokesperson confirmed that it wants to hold on to its DivX video codec and software business, which was also part of that $720 million acquisition.

Rovi’s video platform powers Best Buy’s (s BBUY) digital download store, which competes with iTunes, (s AAPL) VUDU (s WMT) and Amazon (s AMZN) for a piece of the transactional VOD cake. Except it apparently didn’t fare very well in doing so: In the first three quarters of 2011, Rovi generated around $54 million in revenue from its Entertainment Store and related assets. That’s…

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