Redbox's owner files for bankruptcy

Looks like physical media rental wasn't a great investment.

The parent company of Redbox, the video rental kiosk often parked inside or outside grocery stores, filed for bankruptcy on June 28. This comes after the company, Chicken Soup for the Soul Entertainment, failed to pay employees, suspended medical benefits, defaulted on loans, and had an order for its vehicles to be repossessed. According to the filing, it has a total of $970 million in debt.

If approved, Chicken Soup for the...