Friday, February 13, 2009

Coinstar Buys Redbox

Bellevue, Washington-based Coinstar said Thursday that the firm intends to purchase the remaining stake in Redbox Automated Retail, a provider of automated DVD rental kiosks. Coinstar said it will purchase the service from GetAMovie Inc. and other minority interest holders. The deal consists of $10M in cash and 1.5 million shares of Coinstar common stock to GAM, or between $134 million and $151 million, plus anywhere between $21.5M and $24.9M to other minority holders. Redbox operates DVD rental kiosks in McDonald's restaurants, grocery stores, Walmart, and Walgreens.