Amazon buys out European online film rental service Lovefilm

20 Jan 2011

Amazon has bought the remaining shares of Lovefilm, a European DVD and online film-rental company.

Lovefilm is a subscription-based website which provides both a DVD and games rental-by-post service, as well as streaming films and TV shows online for PCs, internet TVs and PlayStation 3 consoles. It operates in the UK, Germany, Sweden, Norway and Denmark.

Amazon previously owned a 42pc stake of Lovefilm and has now bought the rest of it for an undisclosed price. In 2008, it fused its own European rental service with Lovefilm.

“Lovefilm and Amazon have enjoyed a strong working relationship since Lovefilm acquired Amazon Europe’s DVD rental business in 2008, and we look forward to a productive and innovative future,” said Greg Greeley, Amazon’s vice-president of European Retail.

“The deal is a winner for the members who love Lovefilm because of its value, choice, convenience and innovation in home entertainment,” said Simon Calver, chief executive of Lovefilm International.

“With Amazon’s unequivocal support, we can significantly enhance our members’ experience across Europe.”