PrintRedbox and Summit Entertainment Sign Distribution Agreement
Summit’s Library Includes the Hit Film Series The Twilight Saga, Knowing and other popular titles
LOS ANGELES and OAKBROOK TERRACE, Ill. – Nov. 2, 2009 – Summit Entertainment, a full-service worldwide film studio and Redbox Automated Retail, LLC, today announced a two-year distribution agreement which expands the depth and breadth of Summit Entertainment titles available at the more than 15,000 redbox DVD rental locations nationwide. The announcement was made by Stephen Nickerson, president of home entertainment at Summit Entertainment and Mitch Lowe, president, redbox.
“We are very pleased to enter into this agreement with Summit as it underscores our commitment to creating winning relationships for our customers and studio partners,” said Mitch Lowe, president, redbox. “This agreement ensures that we will continue to deliver engaging and popular Summit movie titles to consumers at our kiosks when they are first released at an affordable price.”
The agreement provides redbox customers with greater access to Summit’s new release titles and popular catalog as well as the studio’s direct-to-DVD titles. Feature films include the highly popular Twilight, the first in the series of the thriller romance franchise, the hit film Knowing, and the upcoming The Twilight Saga: New Moon.
"Having Summit's films distributed through the redbox network
provides consumers greater access to our broad range of titles.”
said Stephen Nickerson, president of home entertainment at Summit
Entertainment. “In addition, by redbox agreeing to destroy DVDs once
they pass their rental life, the risk of low-cost, previously-viewed
DVDs being sold into the market is lowered. We see this agreement
as a win for both Summit and redbox.”
The two year deal commences January 1, 2010. Redbox has agreed to destroy the Summit product once redbox removes it from the kiosk.
About Redbox
Redbox Automated Retail, LLC, a wholly-owned subsidiary of Coinstar, Inc. (NASDAQ: CSTR), offers new release DVD rentals through its network of conveniently located, self-service kiosks. Redbox is available at more than 15,000 locations nationwide, including select McDonald’s restaurants, leading grocery and convenience stores, and Walmart and Walgreens locations in select markets. For more information, visit www.redbox.com.
About Summit Entertainment, LLC
Summit Entertainment, LLC is a worldwide theatrical motion picture development, financing, production and distribution studio. The studio handles all aspects of marketing and distribution for both its own internally developed motion pictures as well as acquired pictures. Summit Entertainment, LLC also represents international sales for both its own slate and third party product. Summit Entertainment, LLC plans to release 10 to 12 films annually.
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Certain statements in this press release are "forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, including phrases conveying expectation or intent
and other expressions identifying future performance. The forward-looking
statements in this release include statements regarding Redbox’s
relationship with Summit Entertainment relating to among other things,
a DVD licensing arrangement. Forward-looking statements are not guarantees
of future performance and actual results may vary materially from
the results expressed or implied in such statements. Differences
may result from actions taken by Redbox or Summit Entertainment,
including those beyond Coinstar or Redbox’s control. Such risks and
uncertainties include, but are not limited to, the early termination
or renegotiation on materially adverse terms of the licensing agreement
and failure to abide by the terms and requirements of the licensing
agreement. The foregoing list of risks and uncertainties is illustrative,
but by no means exhaustive. For more information on factors that
may affect future performance, including our relationship with Summit
Entertainment, please review “Risk Factors” described in our most
recent Annual Report on Form 10-K and any subsequent Quarterly Reports
on Form 10-Q filed with the Securities and Exchange Commission. These
forward-looking statements reflect Coinstar, Inc.’s expectations
as of the date hereof. Coinstar, Inc. undertakes no obligation to
update the information provided herein.
MEDIA CONTACTS:
Chris Goodrich
JSH&A Public Relations (Redbox)
(630) 932-1028
Summit Media Contact:
Paul Pflug / Hans Kopal
Principal Communications Group
(323) 658-1555
paul@pcommgroup.com / hans@pcommgroup.com