Amazon to buy full control of UK's Lovefilm
(Reuters) - Amazon.Com is to buy the 58 percent of British DVD and games rental firm Lovefilm it does not already own for an undisclosed price, it said on Thursday.
Lovefilm has built a European movie rental-by-post business and has also started streaming digital movies.
"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," Greg Greeley, Amazon's Vice President of European Retail, said.
Amazon owned a 42 percent stake in privately held Lovefilm after combining its own European rental operation with Lovefilm in 2008 and through buying out one of the company's venture capital backers.
(Reporting by Paul Sandle and Georgina Prodhan; Editing by Dan Lalor)
Credit: Reuters (www.reuters.com)
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