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Online Movie Provider CinemaNow Gets Investment Infusion

Jul 13, 2006  •  Post A Comment

Online on-demand movie provider CinemaNow announced Thursday it has received $20.3 million in a fifth round of funding led by satellite TV firm EchoStar and Japanese mobile content company Index Holdings.

In addition to these new investors, previous contributors Transcosmos, Cisco Systems, Lionsgate and Menlo Ventures also invested in the fifth round of funding, CinemaNow’s largest single round of financing to date.

In addition to expanding its service to mobile platforms, CinemaNow plans to access the 12 million subscribers to EchoStar’s Dish Network service via Web-connected satellite boxes that would allow customers to download streaming movies to their television sets, according to Reuters.

This new infusion brings the Marina del Rey, Calif., company’s investment total to $40 million since 1999.