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Best Buy to Intro Video Service

11:00 AM -- Best Buy plans to introduce its Internet video service by the end of the month, the Associated Press reports.

Best Buy has partnered with Sonic for the video delivery. The service will be under the brand of CinemaNow, which Best Buy acquired from Sonic Solutions (Nasdaq: SNIC) as part of their partnership, and will allow users to rent movies for about $4 and buy them for about $15 (these prices are similar to those of competitors like iTunes and Amazon).

Initially, the service will be available on some LG Electronics Blu-ray players and home theater packages sold by Best Buy. But eventually, Best Buy plans to offer the service on every Web-connected device it sells.

In other news:

  • Hulu LLC 's subscription service won't be ready by next week, as had been expected, AllThingsD's Peter Kafka reports. Though some details of the service have been settled -- users will be able to pay $10 to access a more complete catalogue of shows while regular Hulu remains free -- Kafka is skeptical about whether other terms have been agreed upon by all parties involved.

  • The New York Times reported today that Amazon.com Inc. (Nasdaq: AMZN) is on a hiring binge -- and it could mean the company is taking some significant steps in its intensifying competition with Apple Inc. (Nasdaq: AAPL) and its iPad. The new version of the Kindle could include upgrades such as a touchscreen or new games, NYT says.

    — Erin Barker, Digital Content Reporter, Light Reading Cable

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