FilmOn TV Networks has acquired CinemaNow LLC from Los Angeles-based private equity firm Regent Equity Partners. CinemaNow is a pioneer in Transactional Video on Demand (TVOD). financial terms of the deal were not disclosed.
“We are very excited about the addition of CinemaNow,” said FilmOn TV Networks CEO Alkiviades “Alki” David. “This is the first of many substantial acquisitions FilmOn TV Networks will make in 2016,” he added.
The takeover of CinemaNow is the latest move by Greek billionaire Alki David to expand his conglomerate. His family holdings include manufacturing, bottling plants, property and shipping. In 2008 he was the majority shareholder of Leventis-David Group, which owns Coca-Cola Hellenic bottling plants in 28 countries. Founded in 2006, FilmOn is based in London, UK with offices in Beverly Hills, CA and Geneva, Switzerland. His other companies include the home-shopping website 9021go.com, the streaming-video site BattleCam.com, and the modeling agency Independent Models. Alki David, who was born in Lagos, Nigeria, has also appeared in feature films and on television, and is the executive producer and subject of the documentary Lord of the Freaks.
FilmOn TV Networks has over 70 million monthly unique users from around the globe who access nearly 1000 free channels containing licensed, wholly owned, and original content across the genres of news, sports, movies, music, food, travel and more. It also offers social television, premium first tier movies, and over 45,000 VODs. FilmOn TV is also an Independent TV Broadcaster broadcasting FOTV via Dish Network and Charter Cable and on stations in the UK (Sky Channel 237 and Freesat channel 410).
CinemaNow is a pioneer in over-the-top (OTT) digital networks procuring and distributing on-demand film and television content from all major and independent studios. CinemaNow is an electronic sell-through (EST) platform to purchase, rent and view film and television content from a world class content library of over 55,000 titles with an average of 150 new titles added weekly. CinemaNow is available on over 350 different devices including Roku, Chromecast, Play Station, Xbox, Smart TVs, Apple iOS, Samsung and others. Currently, CinemaNow offers Oscar nominees Inside Out, The Martian, Straight Outta Compton, blockbusters such as Jurassic World, Furious 7 and many hit TV shows. It is available on Roku, Play Station, Xbox, Apple iOS, Samsung and many others.
CinemaNow will distribute exclusive content owned by FilmOn, including original programming and libraries of timeless movies by famous directors such as Alfred Hitchcock, John Ford, and Federico Fellini, as well as rare footage of the Beatles and John F. Kennedy.
CinemaNow will also distribute the history-making content created by Alki David’s Hologram USA which already partners with all the major studios and broadcasters. Shows created around the Whitney Houston, Billie Holiday, Patsy Cline and Andy Kaufmann holograms will be available via filmon.com and CinemaNow, with Virtual reality and Live 360 options bringing these amazing futuristic events to life, inside the home.
CinemaNow will further benefit from FilmOn’s partnership with Lenovo, the world’s largest PC-maker, as FilmOn apps are pre-loaded on every Lenovo desktop computer, ThinkPad tablet, smart phone and smart TV. FilmOn will continue to white label CinemaNow and expand the reach of premium studio content, through the FilmOn network of over 10,000 affiliates including Blackberry, Intel and iHeartMedia.
The service competes with video storefronts including Apple’s iTunes, Amazon Video, Google Play and Walmart’s Vudu.
CinemaNow was founded in 1999, backed by investors including Lions Gate Entertainment (NYSE:LGF), Cisco (NASDAQ:CSCO), Microsoft (NASDAQ:MSFT) and EchoStar (NASDAQ:SATS). A decade later the pioneering service, then owned by Sonic Solutions (NASDAQ:SNIC), cut a deal with Best Buy (NYSE:BBY) to use CinemaNow as its online entertainment brand, according to Variety. Best Buy exited the business in 2014 and sold the brand to Reliance Majestic Holdings, which had also acquired the back-end operations group that powered CinemaNow.