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MovieBeam Back From Dead, Again; To Be Sold To Dar Capital For $2.25 Million

By Rafat Ali - Mon 05 May 2008 12:23 PM PST

This box has nine lives, literally: Just when you thought the doomed digital movie service MovieBeam would finally be buried with Movie Gallery bankruptcy, it will be sold again. According to Dow Jones’ (NYSE: NWS) Daily Bankruptcy Review, Movie Gallery has asked for bankruptcy court approval to sell the VOD service to Dar Capital Limited at a $2.25 million price tag (via). MG bought the company for less than $10 million early last year, and operated the movie delivery service for a while before shutting it down in December. MovieBeam receives the content over the air with an antenna connected to a set-top box. A brief history of the various re-incarnations of MovieBeam is here.

According to the story, MovieBeam had about 1,800 subscribers at the time it was shut down. MG began shopping the MovieBeam business soon after shuttering the service and that 14 parties showed an interest in the company. Dar Capital is picking up MovieBeam’s remaining assets, which include certain trademarks and intellectual property associated with the business. Not much info on Dar, except that it is a London based company, and if this story is correct, it is part of a Kuwaiti bank.