Amazon has reached an agreement to acquire the remaining shares in LOVEFiLM International Limited, 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 Playstation3.
LOVEFiLM operates today in the UK, Germany, Sweden, Norway and Denmark. Amazon already has a significant minority shareholding in LOVEFiLM and doesn't itself operate any similar business in Europe.
"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."
The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first quarter of 2011.
[tags]tv shows,ps3,playstation3,laptop,smart tv[/tags]