March 1, 2007 12:05 PM PST

Blockbuster reportedly in talks for Movielink

Movie-rental company Blockbuster is in advanced talks to acquire Movielink, an online movie-downloading company owned by the major Hollywood studios, The Wall Street Journal reported Thursday, citing people familiar with the matter.

The price was said to be less than $50 million in cash and stock but the deal would give Blockbuster a quick way into the online downloads business and bring much-needed marketing muscle to Movielink's efforts to increase market share now that big players like Apple's iTunes and Wal-Mart Stores have jumped into the fray, the paper said.

Movielink is owned by a joint venture of Metro-Goldwyn-Mayer Studios, Paramount Pictures, Sony Pictures Entertainment, Universal Studios and Warner Bros.

No one at Blockbuster or Movielink could immediately be reached for comment.

Story Copyright © 2008 Reuters Limited. All rights reserved.

 

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