Blockbuster acquires Movielink

DALLAS, Aug. 9 (UPI) -- Blockbuster has acquired Movielink, the video downloading service, in an effort to stay ahead in the fast-changing U.S. home entertainment business.

The acquisition gives Dallas-based Blockbuster access to one of the largest libraries of downloadable movies and a large array of television material.

Terms of the deal were not disclosed but analysts estimate it might be in the neighborhood of $50 million, the Dallas Morning News said.

Movielink, based in Santa Monica, Calif., was created in 2002 by a joint venture of MGM, Paramount, Sony Pictures, Universal and Warner Bros.