LOVEFiLM to Acquire Amazon's UK and German DVD Rental Business; Amazon to Become Largest Shareholder of LOVEFiLM.
PR Newswire Europe, February, 2008
LUXEMBOURG, February 4 /PRNewswire/ -- Amazon.com (NASDAQ: AMZN) and LOVEFiLM International ( http://www.lovefilm.com), today announced that LOVEFiLM will acquire Amazon Europe's DVD rental business in the United Kingdom and Germany. As part of this transaction, Amazon Europe will also make a cash investment and become the largest shareholder in LOVEFiLM International Ltd., and finally, the two companies will enter into a multi-year marketing agreement in which Amazon Europe will promote LOVEFiLM's services on its sites for UK and German customers.
Completion of the deal is subject to regulatory approval in the UK and Germany. Following completion of this deal, the new LOVEFiLM subscriber base will total over 900,000 customers predominantly in the UK and...
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