LiveUniverse Buys Peerflix8 Sep, 2008 By: Chris Tribbey
The Washington Post has confirmed that Internet media holding company LiveUniverse has purchased former DVD-swapping site Peerflix. Terms of the deal have not been disclosed.
Peerflix stopped its DVD trading services earlier in April and instead became a movie media network.
“While we have made considerable investments in our marketplace platform over the past four years, unfortunately the escalating costs of operating the marketplace do not make that business viable at this juncture,” the site’s owners wrote to their members when the decision was made to get out of the DVD swapping business. “As we move out of the DVD marketplace business, we are focusing our energy and resources on building the Peerflix Media Network which is now the Web’s fastest growing vertical movie network.”