Movies

Paramount extends license deal with Redbox

MUMBAI: The trial selling license of DVD kiosk operator Redbox has been extended by Paramount Home Entertainment (PHE) till 30 June 2010. This move will usher new-release titles such as Up in the Air and The Lovely Bones.


Redbox and PHE signed their initial trial license agreement in August this year. Under the deal, Redbox customers will be provided with access to new-release DVD titles from PHE on the day of release until 30 June 2010. Redbox has agreed to destroy PHE titles once the product is removed from kiosks. If Paramount exercises the option past a trial, the agreement with Redbox will run through December 2014 and contains an early termination right at PHE‘s discretion in December 2011.


"We are enjoying our business relationship with Redbox and the data from our initial trial period has been encouraging," said Paramount Home Entertainment worldwide president Dennis Maguire. "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," added 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."

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