Complex sentence: The Criterion Collection is a privately held company that distributes consumer versions of "important classic and contemporary films," at first appearing on Laserdisc, then on DVD, Blu-ray Disc and recently began a downloading service online via a partnership with The Auteurs.
Split into simpler sentences: The Criterion Collection is a privately held company that distributes consumer versions of "important classic and contemporary films," at first appearing on Laserdisc, then on DVD, and most recently Blu-ray Disc format. The company recently began a downloading service online via a partnership with The Auteurs.