Coinstar (CSTR) Shares Higher as Redbox, Universal Extend DVD, Blu-ray Agreement
Shares of Coinstar (Nasdaq: CSTR) are acting well Thursday following a release earlier about its subsidiary, Redbox, and Universal Studios Home Entertainment entering a multi-year agreement that will continue to make Universal Blu-ray Disc and DVD titles available for rental at Redbox locations nationwide 28 days following the home entertainment release.
According to a filing with the U.S. SEC, Redbox "entered into a First Amendment to the Revenue Sharing License Agreement with Universal Studios Home Entertainment LLC, which extended the term of the parties’ DVD rental revenue sharing arrangement, from April 21, 2012 to August 31, 2014. Coinstar has guaranteed up to $10 million of Redbox’s liability under the Amended Agreement."
Shares of Coinstar are up over 4.7 percent, while Netflix (Nasdaq: NFLX) shares are about 2 percent better on the session.
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According to a filing with the U.S. SEC, Redbox "entered into a First Amendment to the Revenue Sharing License Agreement with Universal Studios Home Entertainment LLC, which extended the term of the parties’ DVD rental revenue sharing arrangement, from April 21, 2012 to August 31, 2014. Coinstar has guaranteed up to $10 million of Redbox’s liability under the Amended Agreement."
Shares of Coinstar are up over 4.7 percent, while Netflix (Nasdaq: NFLX) shares are about 2 percent better on the session.
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