Already owning a minority stake in subscription-based entertainment service LOVEFiLM, it has been announced today that Amazon have purchased all remaining shares, hence acquiring the company outright.
Greg Greeley, Amazon’s Vice President of European Retail, states:
LOVEFiLM has been innovating on behalf of movie rental customers across Europe for many years and with the advent of the LOVEFiLM player, they are further delighting customers by streaming digital movies for their immediate enjoyment.
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.
LOVEFiLM CEO Simon Calver is also positive about the acquisition, stating:
The deal is a winner for the members who love LOVEFiLM because of its value, choice, convenience and innovation in home entertainment.
With Amazon’s unequivocal support we can significantly enhance our members’ experience across Europe.
Across Europe? Hmm. Here’s hoping the move will see LOVEFiLM expand outside of their current markets – the UK, Germany, Sweden, Norway and Denmark – and improving the service even further.
Source: Press release
Darth Newdar
I hope this doesn’t change Lovefilm’s excellent service. Great value for money, and no extra charge for Blu-rays.
shields_t
Hopefully they won’t begin charging postage like Amazon do!
beeje13
Hopefully the management will stay the same, just that money now goes only amazon instead of lovefilm’s other shareholders.
hazelam
so lovefilm bought amazon’s dvd rental business, now amazon are buying lovefilm? o_O
cheekyMcB
I love LoveFilm but I think this is a massive shame. I hate it when a massive company comes in buys another smaller innovative/successful company to become a cog in it’s machine. It rarely goes well. Don’t get me wrong I like Amazon but it a shame this predominantly British company is no longer an independent success. That’s what seems to happen to many successful UK companies now…do well & get bought by US compa.ny