Lovefilm signs Amazon deal
DVD rental company expands customer base
|
More Articles:
Most Viewed:
'Blind Side' tackles box office competition(5001 views)Spielberg abandons 'Harvey'(1682 views)Nine(1452 views)Taylor Lautner to star in 'Max Steel'(1112 views)Jack Black animates film pitch(1057 views)Oscar loves foreign actresses(839 views) |
If the deal is approved by regulators, the combined subscriber base will total more than 900,000 customers, across the U.K., Germany, Sweden, Norway and Denmark.
Roughly 600,000 of those come from Lovefilm, with Amazon contributing the other third.
Terms of the deal have not been announced, but Amazon will make an undisclosed cash investment in Lovefilm, as well as receiving stock in the business. Lovefilm’s other shareholders include Arts Alliance Media, Benchmark Capital, Esprit Capital and Index Ventures.
Amazon Europe has also signed a multi-year marketing agreement to promote the Lovefilm service on its U.K. and German websites.
Greg Greeley, Amazon’s VP of European retail, said, “As one of Europe’s largest online DVD rental businesses, Lovefilm is well established to serve customers’ increasing demand for entertainment. Our investment will enable Lovefilm to grow the business further.”
