Redbox 2015 Annual Report Download - page 33

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Q3 2015 Events
• On September 15, 2015, we paid a cash dividend of $0.30 per outstanding share of our common stock totaling
approximately $5.1 million.
• On July 14, 2015, Sony elected to exercise its option to extend our existing content license agreement. This extended
the license period through September 30, 2016, with no further options to renew, and required us to issue 25,000
shares of additional restricted stock to Sony during the fourth quarter of 2015, which we issued on October 2, 2015;
and
• During the three months ended September 30, 2015, we repurchased 938,586 shares of our common stock at an
average price per share of $64.73 for $60.8 million.
Q2 2015 Events
• On June 23, 2015, we paid a cash dividend of $0.30 per outstanding share of our common stock totaling
approximately $5.4 million;
• On June 5, 2015, Redbox entered into an amendment to the existing April 22, 2010, agreement with Twentieth
Century Fox Home Entertainment LLC (“Fox”) that maintains a 28-day window on Blu-ray Disc and DVD titles
through June 30, 2017, and includes a revenue sharing arrangement between Redbox and Fox;
•During the three months ended June 30, 2015, we repurchased 284,537 shares of our common stock at an average
price per share of $77.40 for $22.0 million; and
• During the three months ended June 30, 2015, we recognized a goodwill impairment charge of $85.9 million related to
our ecoATM business segment. See Note 6: Goodwill and Other Intangible Assets in our Notes to Consolidated
Financial Statements and the ecoATM results section below for additional information.
Q1 2015 Events
• On March 31, 2015, we completed the shutdown of the Redbox Canada operations as the business was not meeting
performance expectations. The value of the content library and certain capitalized property and equipment consisting
primarily of installation costs were amortized over the wind-down period ending on the disposal date of March 31,
2015. See Note 12: Discontinued Operations in our Notes to Consolidated Financial Statements for additional
information;
• On March 31, 2015, we reduced the size of our Redbox headquarters facility in Oakbrook Terrace, Illinois through
early termination of operating leases for certain floors. See Redbox results discussion and Note 11: Restructuring in
our Notes to Consolidated Financial Statements for additional information;
• On March 26, 2015, we entered into a revenue sharing agreement with Warner Home Video, a division of Warner
Bros. Home Entertainment Inc., (the “Warner Agreement”) under which Redbox agrees to license minimum quantities
of theatrical and direct-to-video titles for rental through March 31, 2017. The Warner Agreement maintains a 28-day
window on such titles.
•On March 18, 2015, we paid a cash dividend of $0.30 per outstanding share of our common stock totaling
approximately $5.6 million; and
• During the three months ended March 31, 2015, we repurchased 617,195 shares of our common stock at an average
price of $65.96 per share for $40.7 million.
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