TheValuableGroup
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MovieBeam sold, plans three market return tour this year
Looks like Movie Gallery finally got something for the assortment of PBS bandwidth and spare parts remaining from the now-defunct MovieBeam service. The new owner is Indian conglomerate The Valuable Group, headed by Sanjay Gaikwad who apparently thinks serving up a remarkably limited assortment of heavily compressed HD and SD movies on demand is an idea that deserves to fail all over the world, instead of just in the U.S. Since $100 million burned up by Disney and others wasn't enough to make things work, he plans to invest a similar amount over the next two years to relaunch the service in North America, the U.K. and "other overseas markets". Variety notes The Valuable Group already delivers movies digitally to India and South Asian theaters via satellite so maybe they know something we don't about this business model, and with plans to roll out service in three markets with "new, cutting edge features" by year end we'll get to find out soon.
