Monday, February 6, 2012

Redbox Buys NCR's DVD Kiosk Business

In the second, major deal announced Redbox, the DVD rental business owned by Bellevue-based Coinstar on Monday, the firm said it has agreed to purchase the aseets of NCR Corporation's entertainment line of business. NCR makes the DVD kiosks used by competitor Blockbuster. Redbox said it will pay up to $100M for the assets. NCR has been looking to sell the since at least July of last year. NCR's Blockbuster-branded kiosks were considered the biggest challenger to Redbox's extensive network of DVD rental kiosks. The deal comes the same day that Redbox and Verizon announced a video streaming joint venture, which pits the firm directly against similar streaming services from competitor Netflix. Redbox says is htas more then 35,400 kiosks located at 29,000 nationwide. NCR had around 9,000 kiosks nationwide.