LOVEFILM

Written by Anthony Casey on September 20, 2010. Posted in News Round up

Amazon in the UK has tabled a €240m offer to buy out Lovefilm, the online movie rental business, in a bid to increase its grip on all aspects of Britain’s entertainment industry, according to The Sunday Times.

Amazon already owns 42% of Lovefilm, which has more than 1.4m subscribers to a catalogue of more than 67,000 movies and games. The company is believed to have reached breakeven after years of losses and has been mulling a flotation.

Tags: Media