Best Buy Cuts Deal With Sonic For On Demand Video - Eric Savitz (Barron's)

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Best Buy Cuts Deal With Sonic For On Demand Video
Nov 03, 2009 06:35 PM UTC

Eric Savitz (Barron's)

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Symbol	Sentiment	Start	Return	Closed
BBY	n/a
BBI	n/a
SNIC	n/a

Via BARRONS.com: Tech Trader Daily - Barron's Online:

Best Buy (BBY) this morning said it signed a multi-year deal to deploy Sonic Solution’s (SNIC) Roxio CinemaNow technology on a variety of digital entertainment products, allowing consumers to buy or rent movies and TV shows. Terms of the deal also provide BBY with warrants to buy 668,711 Sonic common stock; the warrants have an exercise price of $4.98, and a two-year vesting schedule.

Best Buy said it will include the service in web-connected TVs, portable media players, PCs, Blu-Ray players, set-top boxes and mobile phones from a variety of manufacturers. SNIC already has similar deals with a variety of consumer electronics companies and with Blockbuster (BBI).

On the news, SNIC is up 85 cents, or 16.2%, to $6.09.

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