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Verizon and Coinstar (RedBox) announce joint venture to compete with NetFlix

Verizon and Coinstar (with their Redbox service) just announced in an 8-k and press release today a LLC agreement to combine and pursue video distribution services that will compete with Netflix.

Reps from both appeared on CNBC this morning, but just as mentioned in the 8-k, many of the details of the actual agreement and a copy of the agreement will not be available probably until it is attached as an exhibit to Coinstar’s next 10-Q (probably not available until sometime in April). There is no real detail on how it may be better than NetFlix. What do people think about whether this could compete with NetFlix?

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