Amazon has confirmed the purchase of popular European movie rental and streaming company LoveFilm for an undisclosed amount.
Different reports have placed the purchase price at between $200 million and £200 million ($320 million USD).
The e-tailing giant was already a minority shareholder of the company.
LoveFilm, comparable to Netflix in the United States, has 1.6 million subscribers in the UK, Germany, Sweden, Norway, and Denmark and offers physicals rentals and movie/TV streaming via Internet-connected TVs, PCs, Blu-ray players and the PS3.
Says the rental company (via RWW):
The e-tailing giant was already a minority shareholder of the company.
LoveFilm, comparable to Netflix in the United States, has 1.6 million subscribers in the UK, Germany, Sweden, Norway, and Denmark and offers physicals rentals and movie/TV streaming via Internet-connected TVs, PCs, Blu-ray players and the PS3.
Says the rental company (via RWW):
The deal is a winner for the members who love Lovefilm because of its value, choice, convenience and innovation in home entertainment. With Amazon's unequivocal support we can significantly enhance our members' experience across Europe.
