Lovefilm Reportedly Considering Buyout15 Jun, 2009 By: Chris Tribbey
European DVD mail-order rental service Lovefilm is discussing a possible buyout of existing shareholders, in order to launch an initial public offering and expand its services, according to a June 14 report in the Financial Times of London.
“I can confirm that Lovefilm has received approaches and that the board is considering options on behalf of the group and its shareholders,” a company spokesman told Reuters.
The Financial Times values Lovefilm at about $328 million and listed Arts Alliance Media, Index Ventures, Balderton Capital and DFJ Esprit as shareholders.
In February 2008, Amazon turned its European DVD rental services over to Lovefilm in exchange for the single largest stake in the company.