Redbox Completes Blockbuster Express Purchase
Redbox, a division of Coinstar Inc., sent an e-mail to customers yesterday telling them the purchase was completed on June 23. As CSNews Online earlier reported, Redbox purchased the kiosks from Blockbuster Express' operator, NCR Corp., in February for up to $100 million.
According to the e-mail from Redbox, Blockbuster Express kiosks will continue to offer movies at an "exceptional value for an affordable night of entertainment."
It is unknown if the Blockbuster Express DVD rental kiosks will be re-branded to Redbox in the future. "Stay tuned for more information on any changes that result from this transition," Redbox said in its e-mail, "but for now, we just want to say thank you for being a valuable customer."
In addition to the Blockbuster Express kiosks -- many of which are located at convenience stores -- Redbox also purchased retailer contracts and DVD inventory from NCR's entertainment line of business.
Following regulatory approval, the transaction was originally expected to be completed in the third quarter of this year. However, the deal closed slightly earlier than expected.
NCR and Redbox are not affiliated with Blockbuster LLC, who operated Blockbuster brick-and-mortar stores.