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Amazon Acquires LoveFilm, The Netflix Of Europe

January 20th, 2011 01:31 admin Leave a comment Go to comments

BREAKING: Amazon will acquire the remaining shares in the pan-European movie rental and streaming service LoveFilm. Terms have not been disclosed but we believe it was for around $312 million.

Amazon already owns 42 percent of LoveFilm which acquired Amazon’s DVD rental business in 2008.

Amazon has had a large minority shareholding in LoveFilm for some time and this deal has been in the offing for what seems like forever. The talks have been going on since at least September last year, and Lovefilm investors has been looking for an exit since, oh, 2009?

Assuming regulatory approvals are all fine the deal should close in the first quarter of 2011.

Will it be rebranded? Hard to say but not right now we hazard.

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Source: Amazon Acquires LoveFilm, The Netflix Of Europe

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