Confirmed: UK's Netflix-Clone Lovefilm Considering Sale Options

This story was written by Robert Andrews.
DVD-by-post rental business Lovefilm told us it is reviewing some kind of sell-off options, after earlier FT reports hinted at a deal. A spokesperson told us: "We can confirm Lovefilm has received approaches and the board is considering options on on behalf of the group and its shareholders." Amazon (NSDQ: AMZN) owns about a third of the company, after selling its own European businesses to Lovefilm last year.

Investment bank Jeffries has been appointed to coordinate the deal. But what kind of offers have been made, and what shape the deal might take, isn't yet clear - FT.com suggested some VC backers now want to exit: "Discussions are focusing on new investors acquiring a majority stake rather than a full buy-out of existing shareholders". More on PCUK.


By Robert Andrews
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