IBM Corp. has been hired by Sony Corp., Viacom Inc.'s Paramount Pictures and three other Hollywood studios to run a Web site that shows full-length movies on personal computers.
Terms weren't disclosed. IBM won the three-year contract from Movielink, a joint venture of Sony Pictures Entertainment, Paramount, Vivendi Universal's Universal Studios, AOL Time Warner Inc.'s Warner Bros. unit and Metro-Goldwyn-Mayer Studios. The site for downloading movies will start operating in the U.S. this year; pricing is pending.
Shares of Armonk, N.Y.-based IBM rose $1.30 to $74.50 on the NYSE.