Amazon has just announced it has agreed terms to buy up all the remaining shares of
Lovefilm it didn't already own. The British outfit operates a subscription-based movie rental and streaming service in its home market along with Germany, Denmark, Sweden and Norway, and should give Amazon a very solid base from which to build its presumably
Netflix-besting ambitions. Lovefilm has been just about the closest thing Europe has had to the ridiculously successful North American movie distributor and Amazon is arguably getting in just in time, given Netflix's overtures toward expanding into the UK. Customary closing conditions will need to be met before the final stamp of approval is applied, but the acquisition is expected to complete by the end of Q1 of this year. Amazon's wading into
yet more content distribution, who'd have thunk it?
Continue reading Amazon agrees to buy UK movie streaming and rental service Lovefilm
Amazon agrees to buy UK movie streaming and rental service Lovefilm originally appeared on Engadget on Thu, 20 Jan 2011 04:13:00 EDT. Please see our terms for use of feeds.
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