Online retailer Amazon has bought the remaining 58 per cent stake in film library Lovefilm for an undisclosed sum.
The company originally took out its original 42 per cent stake in Lovefilm back in 2008 and ever since there had been speculation about a full buyout. This latest deal values the DVD rental and film download company at around £200m.
Lovefilm has been a success story since its launch in the UK in 2004, building up a subscription base of 1.4 million for postal deliveries of DVDs across Europe. Its digital streaming service launched last year, allowing viewers to rent and view films via the internet. The service is increasingly being featured on internet-ready TVs by the likes of Sony and Samsung.
Greg Greeley, Amazon’s vice-president of European retail, said: “Lovefilm has been innovating on behalf of movie rental customers across Europe for many years and with the advent of the Lovefilm player, they are further delighting customers by streaming digital movies for their immediate enjoyment.”