Coinstar: Verizon (VZ) and Redbox form joint venture to create new consumer choice for video entertainment (49.65)
Verizon (VZ) and Coinstar announce the formation of a joint venture that will offer all of the convenience, simplicity and value of Redbox new release DVD and Blu-ray Disc rentals combined with a new content-rich video on-demand streaming and download service from Verizon. The joint venture plans to introduce the product portfolio in the second half of 2012. The joint venture is a limited liability company with Verizon holding a 65% ownership share and Redbox holding a 35% ownership share at the outset.
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