The world has another potential Netflix-killer.
Verizon and Coinstar, owner of DVD kiosk service Redbox, have announced that they’ll be launching a joint venture combining Redbox’s product with a video on-demand streaming and download service from Verizon.
Planned for the second half of 2012, the venture joins the biggest provider of physical DVDs with Verizon’s massive network.
Verizon will hold a 65 per cent ownership share, with Redbox having a 35 per cent ownership share at the outset.
We’ll have more details on the joint venture later. The companies have a conference call scheduled for 9:30.
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