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Redbox hurt by delayed DVD releases

A Redbox kiosk at Walgreens. (Handout)

Shares of Coinstar Inc. fell 26 percent on Friday morning, a day after the electronic kiosk company said delayed releases of DVD titles hurt sales at its unit Redbox during the crucial holiday season.

“This was Redbox’s first holiday season with 28-day delayed titles, and we underestimated the impact that the delay would have on demand during the fourth quarter,” Chief Executive Paul Davis said.

As part of a settlement last year, Redbox had agreed with News Corp.’s Twentieth Century Fox, Universal Pictures owned by General Electric and Time Warner’s Warner Bros, to wait for 28 days after a DVD title is released before offering them for rent. Get the full story »

Redbox signs convenience store deal

Redbox is hoping more people will grab a movie at the convenience store, along with that lottery ticket.

The dollar-a-night movie rental kiosks are expanding into EZ Mart Stores, Inc., Fastrac Markets, Murphy Express and VPS Convenience Store Group, thanks to a deal signed this week that will add locations in the Northeast, Southeast and Midwest. Get the full story »

Redbox strikes deal with CVS

(AP Photo/Elaine Thompson)

Oakbrook Terrace-based Redbox announced Thursday that it has reached a deal with CVS/pharmacy to roll out DVD rental kiosks at CVS and Longs Drugs locations nationwide and in Puerto Rico.

The $1-per-night DVD vendor, a subsidiary of Coinstar Inc., said about 700 kiosks will arrive at CVS locations by the end of 2010, and expand to thousands of locations by the end of 2011. Get the full story »

Redbox agrees to wait 28 days for Warner movies


DVDs being returned at the Red Box movie rental vending machines outside Tony’s Finer Foods on Belmont. (Phil Velasquez/Chicago Tribune)

Associated Press | DVD rental kiosk chain Redbox has agreed to wait 28 days after Warner Bros. releases new movies for sale before offering to rent them for $1 a night.

The agreement announced Tuesday ends a lawsuit Oakbrook Terrace-based Redbox filed against Warner Bros.’ home video unit last August.

Get the full story »