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COINSTAR PAID $20 MILLION FOR A BIG BITE OF REDBOX.(investments)(Brief Article)
Bellevue, WA-based Coinstar Inc. reported last week it paid $20 million in cash for 47.3% of Redbox, the McDonald's Corp. kiosk unit that rents DVDs for $1 per night. Coinstar reports that more than three million DVDs have been rented from the kiosks in the last five months. Most of the 800 self-service Redbox kiosks are located at McDonald's restaurants, but Coinstar's investment "will enable the expansion of Redbox to more locations," Chris Catalano, chief investment officer of McDonald's Redbox division, said in a statement. Coinstar will serve as the ...
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