MUMBAI: Coinstar Inc that provides coin-counting machines and DVD rental kiosks has said that it has sold its entertainment services business to National Entertainment Network Inc for a nominal consideration.

The company is expecting to record a pre-tax loss of between $52 million to $57 million and realize a one-time tax benefit of between $82 million and $87 million from the sale.

Also, Coinstar, which provides DVD rental kiosks through its unit Redbox Automated Retail LLC, said that it is publicly offering $175 million of convertible senior notes due in 2014 and will use the proceeds to repay debt.

The cost of shares of Coinstar was down about 3 per cent at $31.10 and closed at $31.96 on Nasdaq on Wednesday.