Demonstrating yet again the difficulty of competing with Apple's iTunes store and other prominent DVD sellers for downloadable entertainment, the nine-year-old Marina del Rey company CinemaNow, has been snatched up for just $3 million by Sonic Solutions, known principally for its DVD-burning software. Since it was founded in 1999 investors have reportedly poured more than $40 million into the Novato-based company. Sonic Solutions, which reported a $3.6 million net loss in its first quarter, a $3.7-million loss in its second quarter and recently advised that it expects a similar loss in its third quarter (despite laying off 100 employees in October), reportedly plans to promote a "download to burn" model for online delivery of CinemaNow's library of about 6,000 titles.

20/11/2008