Redbox, Paramount extend DVD supply trial
Deal lengthens the timeframe through Dec. 2014NEW YORK -- Paramount Home Entertainment and Redbox are extending their current DVD supply trial through at least June 30. It was supposed to end on Dec. 31.
The move lengthens the timeframe that Paramount has to extend the agreement through Dec. 2014. It continues to have an early termination right in Dec. 2011. The extension ensures Redbox continued access to new release titles, including "Up in the Air" and "The Lovely Bones."
"We are enjoying our business relationship with Redbox, and the data from our initial trial period has been encouraging," said Dennis Maguire, worldwide president of Paramount Home Entertainment. "We are extending the time period that we have to exercise our option in order to give us more time to assess the long-term potential of this business relationship."
"The extension marks another positive step forward in our relationship with Paramount Home Entertainment," said Redbox president Mitch Lowe. "This agreement provides our customers with access to Paramount titles the day of release at the more than 19,000 Redbox locations nationwide and underscores our commitment to working with the industry."
The two companies first signed their trial license agreement in August. As part of it, Redbox agreed to destroy PHE titles once the product is removed from kiosks.