London, April 16th, 2008 - LOVEFiLM International announced that its acquisition of Amazon Europe's DVD rental business in the United Kingdom and Germany was cleared for completion by the regulators yesterday. Lovefilm and Amazon Europe intend to complete the acquisition shortly.
"We are looking forward to officially welcoming customers from Amazon in the United Kingdom and Germany to LOVEFiLM," said Simon Calver, CEO of LOVEFiLM International. "LOVEFiLM offers one of the largest selections of films in Europe, and we can't wait to provide these customers with our best possible home entertainment experience."
As a result of the deal Amazon's DVD rental customers in the UK and Germany will become members of LOVEFiLM which, for no extra cost, has given them access to Europe's biggest film community. LOVEFiLM users can choose from more titles (65,000+), including video games, an award winning film download service, interactive film reviews, DVD retail and more - meaning far greater control, choice and value for money than any digital TV movie package or high street video store.
Simon Calver commented, "LOVEFiLM.com has become a destination site for almost anything to do with film. We are an integral part of our customers' home entertainment mix, as people are realising that they can affordably and conveniently select the films they want to watch - when they want to watch them."
Amazon Europe will make a cash investment into LOVEFiLM, becoming its largest shareholder. In addition, Amazon Europe will continue to operate the DVD rental business on behalf of LOVEFiLM for approximately three months to ensure an efficient transition and smooth customer experience. No staff reductions are planned at Amazon's German or UK operations as a result of this business transfer.
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