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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.

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