Hasta La Creative!

Activist investor Jana Partners reported Friday that it had a 13.5% stake in Outerwall, the operator of the Redbox movie kiosks, and said it wants to sell some or all of the company’s businesses.

Jana seeks the sale, spinoff or shutdown of the Redbox Instant by Verizon film-streaming venture, which has failed to develop into a credible threat to Netflix, as well as the Rubi coffee-vending kiosks that made their debut in 2012, a person with knowledge of the matter said.

Jana, run by co-founder Barry Rosenstein, is targeting Outerwall after the company disappointed investors for two straight quarters. Shares fell 12% on Sept. 17 after Outerwall cut its forecast for third-quarter and full-year revenue and profit, citing discounting and shorter rental periods for DVDs. The shares also dropped on July 26 after the company reported second-quarter sales that missed analysts’ estimates.

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