3 Media Stocks in Focus: Outerwall Buys EcoATM, Disney Picks Up Marvel Rights, and CBS Extends Carriage Talks
Coinstar (NASDAQ:OUTR): Outerwall, the business formerly known as Coinstar, has purchased the EcoATM franchise for $350 million in cash. The company, which operates the RedBox DVD rental booths, says that the deal will be accretive to its earnings in 2014, and the transaction to purchase the kiosk company is slated to close in the third quarter.
Disney (NYSE:DIS): Disney has acquired the distribution rights needed for Iron Man, Iron Man 2, Thor, and Captain America: The First Avenger, which were all previously held by Paramount (NYSE:VIAB). No financial details were disclosed, but the deal positions Disney well for the release of the Avengers sequel, which is scheduled to debut in May of 2015.
CBS (NYSE:CBS): CBS has extended its deadline with Time Warner Cable (NYSE:TWC) that would allow the two companies more time to orchestrate a carriage agreement, without the threat of pulling programing. The fact that neither side has taken out advertisements criticizing each other or warning consumers of the possible loss of signals — which often happens during talks like these — is seen as a sign that the discussions have not gotten adversarial, the LA Times said.