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Amazon buys the rest of movie rental company LoveFilm

Written by Andre Yoskowitz @ 20 Jan 2011 12:15 User comments (1)

Amazon buys the rest of movie rental company LoveFilm 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 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.

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1 user comment

122.1.2011 21:20

I hope they bring lovefilm to the US because NetFux needs some competition BAD! NF has stomped all competitors in the past, but it's not going to happen next time, because of their paradigm shift into the crappy streaming territory to the detriment of their blu-ray service. Every week I'm back wandering the aisles of Blockbuster like it was the 90s all over. They may actually pull out of the fire because of NF's stupidity. If another company came along and did what NF was doing last year I would switch in a heartbeat.

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