Verizon joins forces with Redbox to launch video streaming service

影视帝国 tomove.com.cnMAP Verizon and Red Box are now joining together to launch an online video streaming service, as watching television shows and films online has become increasingly popular. The move would give Verizon Communications Inc. the opportunity to expand beyond their FiOS service, which costs extra. Verizon would own 65 percent in this new venture and the video-kiosk owner Coinstar Inc. would get 35 percent. The Wall Street Journal reports that sources close to discussions say that Verizon has been in the process of developing an online video streaming service since last year, as they have approached media companies about licensing television shows and older films. Rebox, on the other hand, has done considerably well with their low cost DVD service, but this new plan looks to best interest of the company’s future. Coinstar has been openly talking about giving Redbox an outlet for video streaming in the past year. The Los Angeles Times reports that the service will start later this year and will be national. It will give customers access to both DVDs and Blu-Ray discs, with prices for the service unclear at this point. Verizon is based out of New York, while Coinstar is in Bellevue, Washington, according to USA Today.