Amazon acquires LoveFilm

Amazon is to take full control of online film rental service LoveFilm.

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The two companies reached an agreement today for Amazon to acquire the remaining 58% in LoveFilm it does not already own for an undisclosed sum.

Amazon already had a 42% stake in the film rental service after combining its own European rental operation with LoveFilm in 2008.

LoveFilm offers film rental by post and also a streaming service

Chief executive of LoveFilm Simon Calver says: “With Amazon’s unequivocal support we can significantly enhance our members’ experience across Europe.”

The acquisition is subject to regulatory approval and is expected to close in the first quarter of 2011.

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