Redbox reaches deal with Fox, Universal
Cheap DVD kiosk company Redbox has reached a deal on legal disputes with Universal Studios and Twentieth Century Fox. Under the distribution agreements with the studios, Redbox will have to wait 28 days after a DVD or Blu-ray disc has been released before it can make them available in its kiosks.
Redbox reached similar a similar deal with Warner Bros. in February. The move ensures that "Avatar," Fox's first covered release under the deal, will be available at the $1-a-day kiosks - nearly a month after it's available on DVD, of course. "It's Complicated" will be the first of Universal's movies under the new arrangement.
In a statement, Redbox President Mitch Lowe said the deals help keep rental prices low.
Sales of DVDs have dropped 13 percent last year. You can read and listen to Jennifer Collins' Marketplace story on how Hollywood is hoping 3-D helps boosts DVD sales here.