Amazon to Acquire LOVEFiLM International Limited LUXEMBOURG & LONDON January 20, 2010 Amazon.com, Inc. (NASDAQ: AMZN) today announced that it has reached an agreement to acquire the remaining shares in LOVEFiLM International Limited (www.LOVEFiLM.com ). LOVEFiLM is 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 Playstation®3. LOVEFiLM operates today in the UK, Germany, Sweden, Norway and Denmark. Amazon already has a significant minority shareholding in LOVEFiLM and does not itself operate any similar business in Europe. ³LOVEFiLM 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,² said Greg Greeley, Amazon¹s Vice President of European Retail. ³LOVEFiLM and Amazon have enjoyed a strong working relationship since LOVEFiLM acquired Amazon Europe¹s DVD rental business in 2008, and we look forward to a productive and innovative future.² ³The deal is a winner for the members who love LOVEFiLM because of its value, choice, convenience and innovation in home entertainment,² said Simon Calver, Chief Executive of LOVEFiLM International. ³With Amazon¹s unequivocal support we can significantly enhance our members¹ experience across Europe.² The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first quarter of 2011.
Ah, i'd soo get netflix but the content so far in Canada isnt the best... hopefully Lovefilm (sounds like a adult-movie industry streaming site) will reach Canada someday, give netflix some competition
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