8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): February 27, 2009

COINSTAR, INC.

(Exact name of registrant as specified in its charter)

Delaware	000-22555	94-3156448
(State or other jurisdiction of incorporation)	(Commission File No.)	(I.R.S. Employer Identification No.)

1800 – 114^th Avenue SE
BELLEVUE, WA 98004 (Address of principal executive offices and Zip Code)

Registrant’s telephone number, including area code: (425) 943-8000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

     On February 27, 2009, Coinstar, Inc. (“Coinstar”) increased the size of its board of directors (the “Board”) by one member to nine members and filled the new vacancy by appointing Mr. Daniel W. O’Connor as a director, effective immediately, with an initial term expiring at Coinstar’s 2009 Annual Meeting of Stockholders (the “2009 Annual Meeting”). The Board is expected to nominate Mr. O’Connor for another term as director at the 2009 Annual Meeting. This appointment fulfills a committment Coinstar made last year to add a shareholder representative to the Board.

     Mr. O’Connor, 53, currently serves as president and chief executive officer of the Retailnet Group, LLC, an advisory firm, positions he has held since he founded the company in January 2008. In 1988, Mr. O’Connor founded Management Ventures, Inc., a research firm focused on large-scale retailers, and served as its president and chief executive officer until July 2004. when he became its non-executive chairman until April 2006. Mr. O’Connor has also served as the managing director of Front 4 Ventures, a venture capital and private equity advisory firm, since January 2006. Mr. O’Connor is a certified public accountant (inactive).

     Mr. O’Connor will receive the standard compensation received by Coinstar non-employee directors. The standard compensation arrangements received by Coinstar non-employee directors are generally as described in Coinstar’s definitive proxy statement on Schedule 14A filed on April 29, 2008 with the Securities Exchange Commission. The Board has not yet determined if Mr. O’Connor will serve on any of Coinstar’s Board committees.

     Coinstar issued a press release on March 4, 2009. The full text of the press release is attached hereto and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Press release issued by Coinstar, Inc., dated March 4, 2009

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	COINSTAR, INC.
Date: March 4, 2009	By:	/s/ Donald R. Rench
		Donald R. Rench
		General Counsel and Secretary

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EX-99.1

Exhibit 99.1

MEDIA CONTACT:

Marci G. Maule
Public Relations Director
Coinstar, Inc.
(425) 943-8277
mmaule@coinstar.com

FOR IMMEDIATE RELEASE

COINSTAR NAMES RETAIL INDUSTRY STRATEGIST
DANIEL W. O’CONNOR TO ITS BOARD OF DIRECTORS

BELLEVUE, Wash. — March 4, 2009 — Coinstar, Inc. (NASDAQ: CSTR) today announced that its Board of Directors has appointed retail industry strategist Daniel W. O’Connor as a new independent director. This appointment fulfills a commitment Coinstar made last year to add a shareholder representative to the Board.

“Mr. O’Connor joins Coinstar’s Board with over 25 years experience working with major brands in the retail and consumer products space around the world,” said Paul Davis, chief operating officer and incoming chief executive officer of Coinstar, Inc. “The retail environment today faces new challenges and we look forward to tapping into Daniel’s vast experience as we continue developing our 4^th Wall^® program to meet the needs of retailers and consumers.”

Mr. O’Connor, 53, currently serves as the president and chief executive officer of the Retailnet Group (RNG). RNG is a leading growth and transformational strategy firm working with large-scale retailers and brand owners in North America, Europe and Latin America. In addition, Mr. O’Connor serves as the managing director of Front 4 Ventures, a venture capital and private equity advisory firm.

Previously, Mr. O’Connor founded Management Ventures, Inc., a leading research firm following some of the world’s largest retailers; clients included P&G, Coca-Cola, Anheuser Busch and others. He also served as national director of Consumer Products and Retail Consulting and senior manager of the Audit Practice at Touche Ross & Co. (Deloitte).

“Coinstar’s solid leadership team and outstanding set of complementary businesses provide a strong foundation for growth,” said O’Connor. “I am looking forward to serving on the Coinstar Board and to working with my fellow directors and the executive management team to further develop Coinstar’s retail offering and deliver superior returns to shareholders.”

Mr. O’Connor’s appointment was effective Feb. 27, and has an initial term expiring at Coinstar’s 2009 Annual Meeting of Stockholders. The Board is expected to nominate Mr. O’Connor for another term as director at the 2009 annual meeting.

About Coinstar, Inc.

Coinstar, Inc. (NASDAQ:CSTR) is a multi-national company offering a range of 4th Wall® solutions for the retailers’ front of store consisting of self-service coin counting, DVD rental, money transfer, electronic payment solutions, and entertainment services. The Company’s products and services can be found at more than 90,000 points of presence including supermarkets, drug stores, mass merchants, financial institutions, convenience stores, restaurants and money transfer agent locations. For more information, visit www.coinstar.com.

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