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Redbox Company

BUSINESS
February 7, 2012 | By Ben Fritz, Los Angeles Times
Redbox is hooking up with Verizon Communications Inc. as part of a major step forward to compete with Netflix Inc. in both the digital and physical worlds. The company famous for its ubiquitous red DVD rentals kiosks announced Monday that it would form a joint venture with telecom giant Verizon to create an online movie subscription service. Redbox also agreed to spend up to $100 million to acquire the Blockbuster-branded DVD kiosks operated by NCR Corp., its largest competitor in that business, adding about 9,000 machines to its existing base of 35,400.
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BUSINESS
October 29, 2010 | By Ben Fritz, Los Angeles Times
As more consumers leave DVDs behind for digital downloads, the company that brought movie vending machines to grocery stores nationwide is following the audience. Redbox on Thursday unveiled a new digital strategy that would expand the number of movies offered to consumers directly in their homes by next year, a move the Oakbrook Terrace, Ill., company hopes will set the stage for longer-term growth and soothe investors anxious about its prospects. The company is in talks with several potential partners for this expansion, which will include a Web-based service that works in conjunction with its $1-per-night movie kiosks, Chief Executive Mitch Lowe said.
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