Outerwall Inc. announced that it is shutting down its Redbox operations in Canada and will turn off its network of Blu-ray, DVD and video game rental kiosks by March 5, 2015.

According to Outwerwall, its Canadian Redbox business is “not meeting the company’s performance expectations. As a result, the company recognized an after-tax expense of $1.5 million in the fourth quarter of 2014 related to the accelerated recognition of content library and capitalized install costs on property and equipment. The remaining value of the content library and capitalized install costs will be amortized over an expected three-month wind-down period. Following the final shutdown of the operations in Canada, the company expects to report Redbox Canada results as a discontinued operation.”

For more information visit: www.redbox.ca