Amazon Acquires LOVEFilm, Think Netflix But For Europe

amazonlovefilmAmazon.com just announced that it has reached an agreement to acquire the remaining shares in LOVEFiLM International Limited. LOVEFiLM is a leading European subscription entertainment service which combines the benefits of online DVD and games rental-by-post as well as streaming films and TV shows instantly over the internet to PCs, internet enabled TVs and PlayStation 3. LOVEFiLM operates today in the UK, Germany, Sweden, Norway and Denmark. Amazon already has a significant minority shareholding in LOVEFiLM and does not itself operate any similar business in Europe. Amazon is making moves and they are pretty much staying under the radar while they do it. We had a lot of buzz when LOVEFiLM came to PS3 a while back and we reported it on our sister site ZoKnowsGaming.

The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first quarter of 2011.

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