Verizon and Coinstar recently announced a long-rumored joint venture, combining a new video download and streaming service from Verizon with Coinstar’s popular Redbox kiosk rentals of DVDs, Blu-rays and video games.

The service will launch in the second half of 2012. Redbox also announced it would acquire onetime rival, NCR’s Blockbuster Express, for approximately $100 million. Verizon owns 65% of the new limited liability company, and Coinstar owns 35% of the yet-to-be-named service. The service will be stand-alone and over-the-top, which means that the service will be national at or immediately following launch. Verizon’s infrastructure will supply both digital streaming as well as digital video downloads on demand. Redbox will handle distribution of physical discs through kiosks.

It will be a unified service, and will also be modular, letting users pick which services they want. The streaming and download service will be multi-platform, offering video for PCs, smartphones, tablets, smart TVs, consoles to which Verizon already delivers some video services through FiOS.
 

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