Monday, February 6, 2012

Coinstar's Redbox, Verizon in Streaming Joint Venture

Bellevue-based Coinstar and Verizon said this morning that the two are in a new joint venture, which will provide a video-on-demand streaming and download service combined with Redbox new release DVD and Blu-ray Disc rentals. According to the two companies, the new joint venture will be available in the second half of 2012, and will offer a subscription service that combines streaming with Redbox rentals. Financial details of the joint venture were not disclosed, however, the two said that Verizon will hold a 65 percent ownership share, and Redbox will hold a 35 percent ownership share.