updated 12:55 pm EDT, Wed April 20, 2011
Tesco buys 80 percent share in Blinkbox
UK-based grocery store chain Tesco has just bought a majority stake in movie streaming service Blinkbox. Tesco now owns 80 percent of the company, having purchased shares from Eden Ventures and Nordic Venture Partners for an undisclosed amount. The service will compete with Lovefilm, another streaming service, which also incidentally rents physical DVDs and Blu-rays in Tesco stores.
Unlike Lovefilm, Blinkbox operates on a pay-per-view rather than a subscription model. Blinkbox also streams 9,000 videos, including movies and TV shows, which is more than Lovefilm. It only allows users to watch its offerings through a computer's or a PS3's browser as well as the Xbox, though a PC is required here as well while Lovefilm streams to connected TVs.
Tesco's plans for Blinkbox weren't announced but may have been a hedge against Amazon buying Lovefilm in January. [via Pocket-Lint]