Amazon moves to aquire LoveFilm

MCV Staff 20th September 2010 Business News

Amazon.com has made a 200 million bid to acquire movie rental company LoveFilm.

According to Retail Week, this is not the first time Amazon has expressed interest in the rental service, having taken a 42 per cent stake in the business in 2008.

The privately owned LoveFilm currently has around 1.4 million members with a catalogue of 67,000 movies and games. Prior to this bid, LoveFilm’s owners were rumoured to be considering floating the company on the stock market.

Earlier this month LoveFilm announced the appointment of Kristian Segerstrale, the CEO and co-founder of casual games specialist Playfish, as a non-executive director.

Story originally published on PCR

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