Verizon, Redbox Take on Netflix

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KANSAS CITY, Mo. — Movie lovers could soon have another option for online streaming and movie rentals. Verizon and Redbox recently announced a joint effort that will rival the online streaming giant Netflix.

Although the venture is backed by Verizon, it wouldn’t be exclusive to Verizon customers.

According to the Washington Post, Verizon is currently seeking approval from the Justice Department and Federal Communications Commission for its purchase of airwaves. There is some concern a cross-marketing agreement between Verizon and cable companies would be anti-competitive.

If approved, Verizon and Redbox’s plan to offer online streaming and video rentals could be available this summer. The venture would be divided 65 percent Verizon, 35 percent Redbox.

 

 

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