Subsequent Events

9 Months Ended

Sep. 30, 2015

Subsequent Events [Abstract]

Subsequent Events

Note 20: Subsequent Events

Studio Agreement

On October 16, 2015, Paramount elected to exercise its option to extend our existing content license agreement. This will extend the license period through December 31, 2016, with no further options to renew, and require us to issue 50,000 shares of additional restricted stock to Paramount during the first quarter of 2016. After accounting for this extension, our total commitment to purchase content from Paramount was approximately $112.8 million.

Dividend

On October 27, 2015, the Board declared a quarterly cash dividend of $0.30 per share expected to be paid on December 8, 2015, to all stockholders of record as of the close of business on November 23, 2015.

Asset Acquisition from Gazelle, Inc.

On October 29, 2015, Outerwall Inc. entered into an asset purchase agreement (the "Agreement") with Gazelle, Inc., a Delaware corporation ("Gazelle") that provides consumers an on-line solution for the sale and purchase of used mobile phones, computers and tablets.

Under the Agreement, we will buy certain assets and liabilities of Gazelle. The total purchase price is approximately $18.0 million subject to certain adjustments including for net inventory at the closing date.

The transaction is expected to close during the fourth quarter and is subject to customary closing conditions. Upon closing, the transaction will be accounted for as a business combination.