DOW JONES NEWSWIRES Coinstar Inc. (CSTR) is partnering with Verizon Communications Inc. (VZ) to launch an online streaming video entertainment service, a move that had been heavily anticipated from the operator of Redbox movie- and videogame-rental kiosks. The companies offered few specifics on their combined effort, instead noting that it will offer subscription access and other services. The joint venture, in which Verizon holds a 65% stake, plans to introduce the product portfolio in the second half of this year. "This alliance is the result of a deliberate and strategic process to identify a partner who shares our commitment to delivering innovative solutions to consumers," Coinstar Chief Executive Paul Davis said. Reports late last year suggested that a pact between the two companies was due to be shortly announced as Coinstar faced a self-imposed year-end deadline for the effort. -By Mia Lamar, Dow Jones Newswires; 212-416-3207; mia.lamar@dowjones.com
