LOVEFILM
20
Sep, 2010
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.
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