Thursday, July 13, 2006

CinemaNow Secures $20.3 Million

CinemaNow Inc., the leading Internet provider of premium on demand movies, today announced it has secured $20.3 million in Series E financing led by new investors EchoStar Communications Corporation and Index Holdings. Previous investors Transcosmos, Cisco Systems, Lionsgate and Menlo Ventures also participated in the financing, marking the company's largest single round to date.

"The strong financial backing from established leaders in the technology, entertainment and investment communities will allow us to accelerate our growth and maintain our leadership position in digital distribution," said Mark Amin, chairman of CinemaNow. Added Curt Marvis, CEO of CinemaNow, "By establishing strong commercial agreements as part of the financing with EchoStar and Index, leaders in satellite and mobile services respectively, CinemaNow will remain on the cutting edge of new and innovative models defining the next generation of home entertainment."

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