If you thought
Coinstar was through making industry rattling announcements today, you were wrong. After taking the wraps off its joint venture with
Verizon, now the company has announced it'll be taking over NCR's entertainment division for $100 million. That includes DVD kiosks, retailer contracts and an inventory of discs for stocking the machines. That's big news not only because it expands Redbox's already
sizable self-serve rental empire, but because it's doing so at the expense of the floundering Blockbuster, since NCR owns the blue and yellow
rental kiosks. Presumably existing
Blockbuster Express installations will become Redboxes, though, how quickly that might happen is unclear. For a few more details about the deal check out the PR after the break.
Update: We've attached a letter from Blockbuster explaining the switchover after the break.
Continue reading Redbox snatches up NCR's entertainment division, swallows Blockbuster Express business
Redbox snatches up NCR's entertainment division, swallows Blockbuster Express business originally appeared on Engadget on Mon, 06 Feb 2012 17:58:00 EDT. Please see our terms for use of feeds.
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CommentsSource: http://www.engadget.com/2012/02/06/redbox-snatches-up-ncrs-entertainment-division-future-of-block/
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