Tesco moves into movie streaming with Blinkbox deal
Tesco has bought a majority stake in the video-on-demand service Blinkbox.
The supermarket giant, which reported profits of £3.8bn on Tuesday, has taken an 80 percent stake for an undisclosed sum.
Richard Brasher, Tesco's UK chief executive, said: "Whether customers want to own the DVD, download a digital movie, stream a rental or all three, Tesco is committed to giving customers choice.
"The acquisition of blinkbox – together with a range of other services currently in development – means we can link physical purchase of a product to the building of digital collections in a new and seamless way.”
Blinkbox has two million users and offers more than 9,000 movie titles to rent or buy.