Online retailer Amazon is reportedly set to make an offer for Lovefilm in a deal that could value the movie rental site at around £200m. According to the Sunday Times, Amazon is currently carrying out due diligence on the business that is expected to lead to a buyout offer being made during the next few […]
Online retailer Amazon is reportedly set to make an offer for Lovefilm in a deal that could value the movie rental site at around £200m. According to the Sunday Times, Amazon is currently carrying out due diligence on the business that is expected to lead to a buyout offer being made during the next few months.
Takeover talks are understood to have gathered pace when Lovefilm started to consider a stock market flotation. Amazon already holds a 42% stake in Lovefilm following a tie-up with its European film rental business in 2008.
Other investors in Lovefilm include European venture capital firms Arts Alliance Media, Balderton Capital, DFJ Esprit and Index Ventures.
Lovefilm has more than 1.4 million members across Europe. In exchange for a monthly fee, users can select films and games from the group’s library of 70,000 titles.
