Scalper1 News
Redbox Instant was no match for the Netflix juggernaut. Outerwall (OUTR), the operator of Redbox DVD rental kiosks, and Verizon Communications (VZ) announced Saturday that they are pulling the plug on Redbox Instant, a joint venture that combined Redbox DVD rentals and Verizon streaming video. The subscription service will shut down on Tuesday. Outerwall said that it will provide details on the end of its joint venture with Verizon when it reports third-quarter financial results on Oct. 30. Netflix (NFLX) stock was up more than 1% on the news, above 464, in afternoon trading on the stock market today . Outerwall and Verizon stocks were both down a fraction. Scalper1 News
Scalper1 News