- 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.
Outerwall pulling out all the stops
Dec 10 2013, 08:05 ET