Amazon Buys Remaining Stakes in LoveFilm

Submitted by Jennifer L. Schenker on January 27, 2011

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Online retailng giant Amazon announced January 20 that it will take full control of UK DVD rental and online video company LoveFilm for an undisclosed sum. Amazon already owned 42% of the company.

The British press described the move as a defensive ploy against a planned international expansion by US video-streaming giant Netflix.

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Jennifer L. Schenker has been covering technology outside the U.S for 23 years, most recently for BusinessWeek. She has also worked full-time for the Wall Street Journal Europe, Time Magazine, International Herald Tribune and Red Herring.