For Immediate Release: Valerie Sampson

March 12, 2018 (631) 807-2596

vsampson@elon.edu

Apple Acquires Popular DVD Rental Company

Cupertino, Calif.: On March 12, 2018, computer giant Apple merges with Redbox, the DVD

rental kiosk company.

“This merger is an amazing, new beginning for Redbox and I look forward to working

with Apple in the future,” said Galen Smith, chief executive officer of Redbox.

Redbox specializes in DVD, Blu-ray and video game rentals via automated retail kiosks.

The company began in 2002 when it originally sold grocery items out of four automated

convenience store kiosks. Today, the company has over 42,000 kiosks that rents out DVDs and

games for one dollar per day. Apple bought Redbox for $500 million.

“I’m excited for this merger and what it can do for our company,” said Timothy Cook,

CEO of Apple. “We’ve been hoping to create a streaming video service and merging with

Redbox gives us the chance to work on this project.”

With the addition of Redbox, Apple will begin a streaming video service as part of its

Apple Play service.

Apple is a multinational technology company that designs and develops consumer

electronics and computer software. The company was founded by Steve Jobs, Steve Wozniak

and Ronald Wayne in April 1976. Since then, Apple has become the world’s largest information

technology company and the world’s second largest mobile phone manufacturer.

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