Amazon Sells UK And German DVD Rental Business

lovefilm.jpgAmazon has sold its UK and German DVD rental business to UK based Lovefilm International. As part of the deal, Amazon Europe will make an investment in LoveFilm to become its largest shareholder.

The move is one of the few times Amazon has divested itself of on of its business streams.

According to a Marketwatch report, LoveFilm will benefit from a multi-year marketing agreement with Amazon, including promotion on and The combined business will have 900,000 subscribers, of which 300,000 come from Amazon.

Investors in Lovefilm include Arts Alliance Media, Benchmark Capital, Esprit Capital Partners and Index Ventures.

The financial details of the deal were not disclosed.