AfterDawn: News

Amazon makes bid for 'Lovefilm'

Amazon has bid 199 million pounds for the large European movie-rental company Lovefilm, says The Sunday Times, although both companies have declined comment.

The world's largest e-tailer already owns a 42 percent stake of the rental company.



In 2008, Amazon merged its European rental operation with Lovefilm's, while at the same time buying the stake of one of the company's venture capitalists.

Earlier this year, Lovefilm announced it was ramping up its digital movie services, making deals with Sony and Samsung for on-demand streaming.

Every few months, Amazon is rumored to be purchasing Neflix, the largest rental company in the United States.

Written by: Andre Yoskowitz @ 20 Sep 2010 21:45

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• 4 comments

• bam431

  Lovefilm sounds like a better name for a porn site, just sayin'.
  

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  20.9.2010 23:15 #1

• biglo30

  Dang amazon is balling hard

  21.9.2010 00:03 #2

• JoeyMT

  Unless they plan to compete with the Netflix streaming devices that connect to your TV, this may prove to be an unsuccessful venture. They'll need a device of some sore that streams to TVs.
  

  21.9.2010 09:21 #3

• rezhd (unverified)

  Originally posted by JoeyMT: Unless they plan to compete with the Netflix streaming devices that connect to your TV, this may prove to be an unsuccessful venture. They'll need a device of some sore that streams to TVs. They are not competing with netflix (US) because there is no netflix in the UK. None nada zip, Lovefilm is the money for film rental in the UK and some of Europe. Amazon obviously wants the profit, and yes they already offer streaming to TVs and digital televsion.

  23.9.2010 12:03 #4