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TAGGED AS OUTERWALL INC.

Redbox shutting down Canadian movie rental service

telecom | 02/06/2015 3:10 pm EST

The movie rental service Redbox will shut down its 1,400 kiosks in Canada, owner Outerwall Inc. said Thursday. In its latest quarterly report, Outerwall said the Canadian business is “not meeting the company’s performance expectations” and took a $1.5-million US write down. In a posting on the company’s Canadian website, Redbox said the last day to rent movies would be Feb. 13 and the last day to return them would be March 5. “We were excited to bring our service here, but unfortunately, demand just didn’t meet our expectations,” the company said....