Andre Yoskowitz
4 Feb 2008 18:42
Amazon has announced that it has become the largest shareholder in the online DVD rental firm LoveFilm and that it will be rebranding its UK and German based DVD rental businesses under the LoveFilm banner.
After the deal is completed, LoveFilm's subscription base will increase to almost 1 million customers, mainly in the UK and Germany but also from countries such as Norway, Sweden and Denmark.
Greg Greeley, Amazon's vice-president of European retail, said: "Our investment will enable LoveFilm to grow the business further and we are excited to be part of their future".
Amazon Europe has said it will continue to operate its current services in the UK and Germany for a period until it is completely rebranded under the LoveFilm banner.