RCBG Client Redbox Forms JV with Verizon
CHICAGO, IL – RCBG, a strategy and advisory firm specialized in TMT [telecom, media, technology], announced the collaboration of its client Redbox Automated Retail LLC, the iconic leader in DVD rentals, and unit of Coinstar Inc, with Verizon Communications Inc, to form a joint venture and service offering to be called Redbox Instant by Verizon. The JV will offer streaming video services to consumers, to create a wider choice in entertainment formats.
“RCBG was instrumental in helping shape our strategy, identifying the right partner, and supporting the transaction throughout the process”, said Galen Smith, Corporate Vice President & Treasurer of Redbox. “Their team was focused, effective, and kept the big picture in mind while providing helpful counsel along the way. The firm had previously supported our video games launch so it was a pleasure to work together again”.
The venture will be a limited liability company, and offer a national multi-platform that leverages Verizon’s relationships with entertainment content providers, CDN and cloud computing technologies, with Redbox’ brand, loyal customer base, and national network of rental kiosks.
For information, please visit http://www.verizon.com/about/news/press-releases/verizon-and-coinstars-redbox-form-joint-venture-create-new-consumer-choice-video-entertainment
RCBG provides business strategy and advisory services for companies and investors.
The firm provides advisory services for identifying and executing strategic opportunities, often those created by emerging technologies in TMT [telecom, media, technology]. Our support allows leadership to operate from a highly-informed perspective, alert to what is possible, at risk, and ultimately worth time and capital. Clients include the leading telecom infrastructure providers, service providers, brands and agencies, and strategic investors including corporations, venture capital and private equity.
RCBG is headquartered in Chicago, IL.
For more information, please call +1 312 628 6400 or visit www.rcbg.com
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