On Friday I wrote a blog on Redbox trying a streaming business again. Today, Redbox parent Outerwall Inc. has announced that it will be bought by private equity firm Apollo Global Management, per the NY Times. Besides its more well known Redbox kiosks which rent out DVDs, the company also has a coin change business, Coinstar, that takes a fee every time consumers use the machine to convert change to dollars.
Will Apollo support the streaming side of the business or simply use this acquisition to try and spin it off to more capable hands? We will wait and see.
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