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Redbox Gets New CEO As Investment Group Completes Outerwall Acquisition

DVD rental kiosk company Redbox takes a different spin today as a group of funds from Apollo Global Management closed a $895 million deal (not including debt) to buy the DVD kiosk company’s parent, Outerwall. Apollo divided operations into three separate businesses with Galen Smith, who had been Outerwall’s CFO, becoming Redbox’s CEO. Outerwall CEO Erik Prusch left the company.
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