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Coinstar Inc., the electronic kiosk company, raised its full-year outlook on Thursday after posting a big jump in sales at its DVD rental unit Redbox, sending its shares up more than 10 percent after the market’s close.
The Bellevue, Wash., company, which has courted controversy with Hollywood for Redbox’s $1 a night DVDs, said revenue at the unit rose 54 percent. Get the full story »
Blockbuster Inc. has won its second debt-payment deadline extension in as many months, but the struggling video rental chain reported a wider loss and warned it might have to liquidate, sending its shares plummeting more than 20 percent Friday. Get the full story »
BluRay discs are on their way to 13,300 Redbox kiosks nationwide.
The $1-a-day rental kiosk company is offering the BluRay titles at $1.50 a day and expects to expand to its entire network of 23,000 kiosk locations by fall, the Oakbrook Terrace-based company said Thursday. Get the full story »
By Wailin Wong and Julie Wernau | Redbox, the DVD kiosk rental chain, said Thursday it is laying off 200
employees at its Downers Grove call center as the company shifts those
operations to an outside provider with operations in Texas and Canada.
“After considering a number of options, it was determined that using a
third party to manage our customer service operations was the best
business decision for the company,” Redbox, which is a unit of Coinstar
Inc., said in a statement. “This decision did not come easily, but it
was ultimately the best option for achieving the level of service we
need to provide our customers.”
