Verizon, Redbox Team Up To Take On Netflix

Telecommunications giant Verizon and DVD rental service Redbox have formed a joint venture to create a streaming and download service to compete with Netflix.
By
NetNewsCheck,

Telecommunications company Verizon and Coinstar, parent of DVD rental service Redbox, today announced the creation of a joint venture to produce a new video streaming and download service to compete with Netflix.

The effort is expected to launch in the second half of 2012.

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"It will offer subscription services and more in an easy-to-use, flexible and affordable service that will allow all consumers across the U.S. to enjoy the new and popular entertainment they want, whenever they choose, using the media and devices they prefer," the company's said in a release.

"The joint venture will combine the accessibility and value of Redbox with Verizon's vision for a borderless lifestyle - where consumers easily accomplish what they want or need to do, on their terms, through the power of the network," Bob Mudge, president of Verizon consumer and mass business markets, said in a statement.

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