Amazon has bought control of Lovefilm, the DVD rental service, buying the 58% of the company that it did not already own for an undisclosed figure.
In 2008, Amazon bought a 42% stake in Lovefilm.
The world’s largest online retailer, Amazon, has been planning to take full ownership of Lovefilm for some time.
“Lovefilm and Amazon have enjoyed a strong working relationship since Lovefilm acquired Amazon Europe’s DVD rental business in 2008, and we look forward to a productive and innovative future,” Amazon’s vice-president of European retail, Greg Greeley, said.
Since launching in 2004, Lovefilm has been the biggest DVD rental company and has 1.4 million subscribers. Lovefilm is valued at around £200 million.
The Amazon-Lovefilm deal is expected to close within the next few months.
Lovefilm chief executive, Simon Calver, said: “The deal is a winner for the members who love Lovefilm because of its value, choice, convenience and innovation in home entertainment.”
