Redbox to file for IPO

By Susanne Ault -- Video Business, 5/1/2008

MAY 1 | Redbox, the DVD vending machine provider co-owned by McDonald’s and Coinstar, is hoping to become a publicly traded entity.

The company, which offers $1 a night rentals on new releases, said on Thursday it will file a registration statement for an initial public offering of common stock, subject to market conditions.

Redbox hopes to file the statement with the Securities and Exchange Commission during second quarter of 2008.

In just a few years time, Redbox has expanded its machine footprint nationwide with kiosks located in McDonald’s, Walgreens, Albertson’s and Giant Eagle.

At the end of 2007, Redbox encompassed about 5,000 locations in the U.S.