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| Edited By: |Source: Reuters |Updated: Mar 30, 2018, 04:00 AM IST
US online retailer Amazon.Com is to buy the 58% of British DVD and games rental firm Lovefilm it does not already own for an undisclosed price, it said on Thursday.
Lovefilm has built a European movie rental-by-post business and has also started streaming digital movies.
"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," Greg Greeley, Amazon's vice-president of European Retail, said.
Amazon owned a 42% stake in privately held Lovefilm after combining its own European rental operation with Lovefilm in 2008 and through buying out one of the company's venture capital backers.
