×

Redbox Names Ex-Warner Bros. Exec Mark Horak President

Mark Horak, most recently president of the Americas at Warner Bros. Home Entertainment, will join DVD kiosk company Redbox as its new president on March 17.

Horak’s appointment comes after Redbox president Anne Saunders ankled last December, as part of parent company Outerwall’s restructuring the company and laying off 8.5% of its workforce, or 251 employees.

Horak left Warners when his contract expired at the end of 2013. At the studio, Horak was in charge of P&L for physical and digital video and videogame businesses for the Americas region. He joined the company in 1995, and has served in multiple roles including executive VP of worldwide marketing, responsible for building worldwide release strategies on such titles as “Harry Potter and the Sorcerer’s Stone” and “Matrix Reloaded.” Prior to Warners he served in marketing positions with Dole, RJR Nabisco and StarKist Seafoods.

Jim Wuthrich was appointed Americas prexy of Warner Bros. Home Entertainment last fall; he previously headed international operations for the division.

Outerwall also reported earnings for the fourth quarter of 2013, touting more than 775 million DVD rentals through Redbox last year.

In the fourth quarter, Redbox segment revenue increased 1.7% to $496.4 million, while operating income was $111.3 million, an increase of 39.2% from the year prior. Net revenue per rental was $2.58, up 0.4% from Q4 2012. Overall, Outerwall posted Q4 revenue of $593.7 million, up 5.4% year over year, while net income was $22.7 million (down 1%).

The company said it plans to purchase $350 million of Outerwall’s common stock via a modified “Dutch auction” tender offer, “demonstrating our confidence in Outerwall’s business and long-term growth potential,” Outerwall CEO J. Scott Di Valerio said in a statement.

Also Thursday, Outerwall announced that Mike Skinner, president of the Coinstar cash-redemption kiosk division, has “decided to leave the company for another opportunity” after nine years with the company. Coinstar operations executive James Gaherity will become president of that division.

In addition, Outerwall appointed Maria Stipp president of the ecoATM electronics-recycling kiosk business. She had been chief new ventures officer and concurrently interim president of ecoATM since October 2013.

More Digital

  • Gary Levine and Jana Winograde Showtime

    Showtime, HBO Broaden Scope as Parent Companies Aim to Grow Their Audiences

    For years, the halo around premium cablers such as HBO and Showtime has been integral to their branding. Their parent companies in a past life — Time Warner and CBS, respectively — seemed to be content with the tens of millions of subscribers each had accumulated. But now, shepherded by new corporate owners — AT&T’s [...]

  • Josh Simon - Netflix

    Netflix Hires Nike Exec Josh Simon as VP of Consumer Products

    Netflix’s burgeoning consumer products group has a new boss: Josh Simon, who is leaving Nike to join the streaming giant. Simon, who’s also a Disney and Color Force alum, has been named VP of consumer products for Netflix. Based in L.A., he will start at the company the week of March 2 to oversee the [...]

  • Bob Chapek Disney CEO

    Why Wall Street Is Unhappy (for Now) With Disney's CEO Change

    We all knew the end was coming. Bob Iger had promised, time and again, that the end was coming. But the rather abrupt announcement Tuesday afternoon that he would relinquish his longtime role as CEO of the Walt Disney Co. — and that theme parks head Bob Chapek would succeed him at the top of [...]

  • FandangoNow - Amazon Fire TV

    Fandango's Video Streaming Service Lands on Amazon Fire TV

    FandangoNow, the on-demand transactional movie and TV service from NBCUniversal-owned Fandango, is now available on Amazon Fire TV devices and Fire TV Edition Smart TVs. The expansion to Amazon’s TV hardware platform comes as Fandango vies to get a bigger slice of the digital-entertainment pie — competing with Amazon Video, as well as Apple, Google [...]

  • The Spanish Princess Starz

    Starz CEO Jeffrey Hirsch Lifts Lid on Local Originals Drive for SVOD Starzplay

    Starz CEO Jeffrey Hirsch has outlined the local originals strategy for Starzplay, revealing that a slate of shows are being planned out of the Middle East and India as the business looks to complement its U.S. and English-language pipeline of content. Speaking at the Berlinale Series Market and Conference on Wednesday, the executive told Variety that the [...]

  • Netflix-logo-N-icon

    Netflix Adds Deals With Six Anime Creators in Japan

    Global streaming giant, Netflix is partnering with six different Japanese creators in order to expand its slate of originals anime content. Among the deals are ones with Clamp, the female manga collective that was responsible for the “Cardcaptor Sakura” franchise. Another is with Mari Yamazaki, whose “Thermae Romae” manga was turned into two hit live-action [...]

More From Our Brands

Access exclusive content