Amazon.com has signed an agreement to acquire Lovefilm, a U.K.-based company that's considered a European equivalent to Netflix.
The online retail giant had owned a minority stake in Lovefilm since 2008 when the latter bought Amazon's DVD rental business, which covered the U.K. and Germany.
Fully acquiring Lovefilm is an interesting move for Amazon. The rental company is essentially Europe's answer to Netflix, offering DVD-by-mail rentals, as well as a streaming service available on PCs, the PlayStation 3, and some HDTVs. Lovefilm, which was founded in 2004, currently operates in the U.K., … Read more