(Reuters) - Verizon Communications Inc and Coinstar's Redbox unit have formed a joint venture to sell video services aimed at competing against video rental giant Netflix Inc.
The venture will combine the Redbox DVD rental kiosk business with an Internet video offering from Verizon, including mobile offerings, in the second half of the year.
On Monday, Redbox-operator Coinstar Inc moved to cement its hold on its business of renting DVDs from automated kiosks, announcing it will buy rival NCR Corp's machines and video inventory for up to $100 million. That, and better-than-expected quarterly results, pushed the stock 13 percent higher after hours.
Read More - http://www.reuters.com/article/2012/02/06/us-verizon-redbox-idUSTRE81510M20120206
No comments:
Post a Comment
Note: only a member of this blog may post a comment.