Confirming rumors that popped up late last year, Verizon and Coinstar (operators of RedBox) today announced that they've formed a new joint venture that intends to take aim at Netflix's video streaming crown. Actual details in the announcement are very scarce, with the video service launching sometime during the second half of this year. The announcement says the service, which will likely retain the familiar RedBox brand, "will leverage Verizon's industry-wide relationships with entertainment content providers, its advanced cloud computing technologies and state-of-the-art IP network infrastructure to distribute video on-demand content to its customers."
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Verizon and Coinstar's Redbox Form Joint Venture - Details Scarce, Launch Expected Later This Year
Posted: February 6th, 2012, 6:42am MST