Best Buy, Sonic Solutions Sign Pact For On-Demand Movies

Nov 3rd, 2009 - Wall Street Journal

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NEW YORK (Dow Jones)--Best Buy Co. (BBY) has acquired warrants that will allow it to buy Sonic Solutions (SNIC) common shares, as part of a pact for the electronics retail giant to start selling products carrying the increasingly popular video-on-demand services from the much smaller Sonic.

Shares of Sonic leapt 16% to $6.08 in recent trading, though Best Buy made no other comments on acquiring the shares other than saying it has the warrants. Sonic shares have fallen steeply in the last few weeks after soaring for much of the year. ...

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