Paramount Titles to Remain with Redbox

HOLLYWOOD: Paramount Home Entertainment (PHE) has extended its trial license program with DVD kiosk operator Redbox through at least June 30, 2010, bringing customers new-release titles such as Up in the Air and The Lovely Bones.

Redbox and PHE signed their initial trial license agreement in August 2009. The extension provides Redbox customers with access to new-release DVD titles from PHE on the day of release until June 30, 2010. Redbox has agreed to destroy PHE titles once the product is removed from kiosks. If Paramount exercises the option past a trial, the agreement with Redbox will run through December 2014 and contains an early termination right at PHE’s discretion in December 2011.

"We are enjoying our business relationship with redbox and the data from our initial trial period has been encouraging," said Dennis Maguire, the worldwide president of Paramount Home Entertainment. "We are extending the time period that we have to exercise our option in order to give us more time to assess the long-term potential of this business relationship."

"The extension marks another positive step forward in our relationship with Paramount Home Entertainment," added Mitch Lowe, the president of Redbox. "This agreement provides our customers with access to Paramount titles the day of release at the more than 19,000 redbox locations nationwide and underscores our commitment to working with the industry."