Outerwall (OUTR) announces a series of operating and capital structure changes which could impact the direction of its business.
Three venture concepts will be wound down in Q1 of 2014 as the company narrows its focus more toward ecoATM and Redbox.
A team of execs will fill the role of Redbox president as Ann Saunders steps aside.
The credit facility will be tapped for an additional $350M of which some of the funds will go toward share buybacks.
The company also plans to find $22M in annual cost savings through workforce reductions.