MovieBeam's Crazy Story Continues: Bought By India's Valuable Group

The MovieBeam box just added a tenth life: The Indian tech-media group Valuable Group has bought out the assets of online and set-top box service MovieBeam. The acquisition includes all assets, including trademarks and intellectual property rights which its past suitors, including Disney, Intel and Cisco amongst others, reportedly spent $200 million in creating over the years.

And we all thought MovieBeam would finally be buried with Movie Gallery was sold out of bankruptcy to Dar Capital Limited at a $2.25 million price tag, just two months ago. MG bought the company for less than $10 million early last year, and operated the movie delivery service for a while before shutting it down in December. MovieBeam receives the content over the air with an antenna connected to a set-top box. A brief history of the various re-incarnations of MovieBeam is here.

MovieBeam had about 1,800 subscribers at the time it was shut down. Valuable says it has ear-marked an investment of $100 million over the next two years for the re-launch of the service (slated to launch at the end of 2008) in North America, UK and other markets. It will launch the service by the end of 2008 in three markets.

Besides integration options with Valuable's digital cinema unit, UFO Moviez, Valuable also has it's own proprietary satellite based set-top box solution, titled BOX Networks, where the tech integration will happen. This also gives UFO Moviez the ability to simultaneously release movies for both the theatrical as well as a VOD platform.

By Rafat Ali, The Washington Post