Right on the heels of the announcement that it will be partnering with Verizon for a streaming-video venture, Redbox has revealed it will be expanding its physical footprint by acquiring all of the entertainment assets of rival NCR Corporation. In the deal, worth up to $100 million, Redbox will be taking control of all of the kiosks, DVD inventory, and certain retailer contracts from NCR, which had run the nearly 9,000 Blockbuster Express kiosks across the country. The move should strengthen Redbox's core business as it prepares to enter the online space, and potentially give it additional leverage in future negotiations with movie studios. The company recently declined to renew its contract with Warner Bros. over the studio's insistance on a 56-day wait period on new titles; Redbox will be acquiring Warner Bros. titles from outside sources instead. The NCR deal is expected to close in the third quarter of this year.
Redbox acquires NCR Corporation and Blockbuster Express DVD rental kiosks in $100 million deal
Redbox has announce the acquisition of all DVD rental assets from NCR Corporation — including the Blockbuster Express kiosks currently run by the company.