231
Redbox's owner files for bankruptcy after repeatedly missing payments and payroll: The company hasn’t paid employees in over a week and owes money to almost everyone in Hollywood ($970M in debt) (www.theverge.com)
submitted 2 years ago by to c/movies@lemmy.world
32 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] 4 points 2 years ago

I think it's that the parent company took out huge loans to buy Redbox. And that's the streaming service they setup has ongoing costs and overhead, like licencing. And the loans they took out to make their own content.

  • permalink
  • fedilink
  • source
  • parent