Amazon To Buy Out LoveFilm, The 'Netflix of Europe' - Broadcasting & Cable

Amazon To Buy Out LoveFilm, The 'Netflix of Europe'

Deal reportedly values movie rental firm at $320 million
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Amazon.com struck a deal to acquire the shares it doesn't already own
of LoveFilm International, a privately held movie-subscription provider
known as the European version of Netflix.

Amazon.com previously
owned 42% of LoveFilm; the buyout values the company at about $320
million, the Wall Street Journal reported.

London-based LoveFilm
-- with under 1.6 million subscribers -- operates today in the United
Kingdom, Germany, Sweden, Norway and Denmark. LoveFilm bought Amazon's
European DVD rental service in 2008. The service provides DVD and games
rental-by-mail as well as streaming films and TV shows instantly over
the Internet to PCs, Internet enabled TVs and PlayStation 3 game
consoles.

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