Rentrak distrib retreats

Rentrak Corp., a distributor of pay-per-transaction videocassettes, will take a $ 2 million charge in the second quarter for suspending efforts to establish a unit in German-speaking Europe.

“We failed to obtain sufficient product-flow commitments from program suppliers,” said Ron Berger, chairman of the company.

Rentrak noted that losses in Europe have hurt its earnings for several quarters.

In the second quarter of 1992, the company posted a loss of $ 475,917, or 5 cents a share, including $ 500,000 of extraordinary start-up costs for its chain store division.

Berger said the company is better off “focusing on the much larger domestic market, where we continue to register record sales and earnings.”

From staff and the Dow Jones News Service

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Digital News from Variety