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My Profile Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > Technology > Article Home Business & Finance News U.S. Politics International Technology Internet Entertainment Sports Lifestyle Oddly Enough Health Science Special Coverage Video Pictures Your View The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters Your View Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters Best Buy plans movie download service with Sonic Tue Nov 3, 2009 9:18am EST Email | Print | Share | Reprints | Single Page [-] Text [+] NEW YORK (Reuters) - Best Buy Co Inc plans to start an online service that allows consumers to buy, rent and download movies and television shows, the electronics retailer said on Tuesday. The system, based on Sonic Solutions' Roxio CinemaNow service, would be built into devices sold at its stores, including television sets, portable media players, computers, mobile phones and other devices from a variety of manufacturers. Best Buy said it has set a multiyear agreement to license Roxio CinemaNow technology. Under the terms of the agreement, Best Buy acquired warrants enabling it to purchase shares of Sonic Solutions common stock. It expects to provide access to new movies, independent films, and older catalog movies, with some new titles available on the same day as the comparable DVD goes on sale. The service could compete with a number of established online media destinations including Amazon.com Inc, and Apple Inc's iTunes store. "Our relationship with Sonic Solutions allows Best Buy to quickly establish a strong position in the digital delivery of video entertainment," Brian Dunn, chief executive of Best Buy, said in a statement. Best Buy bought digital music service Napster Inc about one year ago in an effort to compete with Apple's dominant iTunes service. The company did not give the name of the service, or when it would launch. (Reporting by Franklin Paul, editing by Gerald E. McCormick) © Thomson Reuters 2009 All rights reserved Share: Del.icio.us Digg Mixx Yahoo! Facebook LinkedIn Next Article: UPDATE 1-MOVES-St James's Place, Bank of America Merrill Lynch Also On Reuters Analysis: CIT's bankruptcy exit fraught with uncertainty Video Video: Bankers don charity boxing gloves Slideshow Slideshow: Highlights as the Yankees and Phillies face off More Technology News Scared of flying? Press the fear iButton Sony Ericsson unveils its first Android phone Online holiday sales seen up 8 percent Marvell unveils new e-reader platform Hit streaming service Spotify eyes U.S. music fans More Technology News... Editor's Choice Slideshow A selection of our best photos from the past 24 hours. Slideshow Most Popular on Reuters Articles Video UPDATE 2-China clamps down on Activision's top online game Kids will need two doses of H1N1 flu vaccine Q+A: What are the stakes in the U.S.-China yuan tussle? Buffett to buy Burlington Northern | Video Lloyds, RBS agree to massive shake-up WRAPUP 1-India buys half of IMF's gold for sale; who's next? 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