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EchoStar leads CinemaNow investment round

Thu, 07/13/2006 - 7:10am
Jeff Baumgartner, CED

Satellite TV giant EchoStar Communications and Index Holdings led a $20.3 million series E round in financing in CinemaNow Inc., an Internet-based provider of digital movies and other video fare.

Transcosmos, Cisco Systems Corp., Lionsgate and Menlo Ventures - all previous CinemaNow investors - also participated in the latest round, which marks CinemaNow's single largest round of financing so far. To date, CinemaNow has raised north of $40 million.

EchoStar noted that it will collaborate with CinemaNow to deliver its library directly to its TV customers.

"CinemaNow is leading the way in digital distribution and we see a bright future ahead for their business," said Mark Jackson, president of EchoStar Technologies Corp. "We are also looking forward to working with CinemaNow directly on ways to deliver their robust content offerings to EchoStar's more than 12 million subscribers."

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