Amazon Buys European Streaming Movie Service Lovefilm

Amazon, which already owned 42 percent of European Web movie service Lovefilm, has picked up the rest of the company, too. The Financial Times pegs the value of the deal at $312 million. Apparently it’s a legal requirement to describe Lovefilm as “the Netflix of Europe,” so there you go. Netflix itself isn’t in Europe, but international expansion is on the company’s agenda.