"Best Buy Co., the world’s largest electronics retailer, will start an online store for movies and television shows that will compete with Apple Inc.’s iTunes.
The service will use technology licensed from Sonic Solutions Inc., according to a statement today from both companies. Sonic’s Roxio CinemaNow system will be installed on televisions, computers, Blu-ray players, set-top boxes and mobile phones sold by Richfield, Minnesota-based Best Buy. T
he digital video store expands Best Buy’s foray into services, helping the company increase customer loyalty, Chief Executive Officer Brian Dunn said in the statement. The content will be stored on servers so people can watch on any device, similar to how Web-based e-mail can be viewed on different computers, said Sonic Chief Executive Officer Dave Habiger.
'What we’re creating is movies in the cloud that play back anywhere,' Habiger said in an interview."