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Amazon Acquires LoveFilm, The Netflix Of Europe

Mike Butcher

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Mike Butcher is the European Editor for TechCrunch. A former grunge rock drummer, he became a long time journalist, and has since written for UK national newspapers and magazines including The Financial Times, The Guardian, The Times, The Daily Telegraph and The New Statesman. Mike is also a co-founder and shareholder of TechHub, a co-working space/service/community with several locations... → Learn More

Thursday, January 20th, 2011
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BREAKING: Amazon will acquire the remaining shares in the pan-European movie rental and streaming service LoveFilm. Terms have not been disclosed but we believe the valuation was around $312 million. Amazon already owned 42 percent of LoveFilm which acquired Amazon’s DVD rental business in 2008.

Amazon has had a large minority shareholding in LoveFilm for some time and this deal has been in the offing for what seems like forever. The talks have been going on since at least September last year, and Lovefilm investors has been looking for an exit since, oh, 2009? Assuming regulatory approvals are all fine the deal should close in the first quarter of 2011.

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