Blockbuster has acquired the Internet movie provider Movielink to offer video downloading services to customers.

Blockbuster is also acquiring rights to show the films of Movielink’s owners, which include Warner Brothers Studios, Metro-Goldwyn-Mayer and Paramount Pictures, it said. Financial terms were not disclosed.

Blockbuster is also an investor in a Movielink competitor, CinemaNow, which has 4,000 film, TV and concert titles, compared with Movielink’s 3,300. CinemaNow allows customers to stream videos; Movielink does not.

This move puts finally puts Blockbuster on track to use it’s brand to drive digital movie downloads.