It's been a long and turbulent history for CinemaNow, a pioneering digital movie platform - and now it's time for another chapter: Current owner Rovi has decided to sell the white-label platform two years after it spent a whopping $720M on it.

After having spent $720M on it two years ago, Rovi announced Thursday that it intends to sell its digital video platform dubbed the Rovi Entertainment Store, which was formerly known as CinemaNow.

The company said that it has retained GCA Savvian Advisorsto facilitate the sale. It didn’t disclose all the assets to be included in the sale, but a spokesperson confirmed that it wants to hold on to its DivX video codec and software business, which was also part of that $720M acquisition. ...