Amazon is getting into film, they have splashed the cash and bought a controlling interest in LoveFilm it has been announced today.
It looks like they laying the building blocks for a online version of Blockbuster.
Amazon will gobble up the remaining sharea in the movie rental and streaming service and have gone from a minority shareholder to a major shareholder and now own the entire thing.
Amazon's acquisition is still subject to a few more contractual hurdles but should be approved by the end of Q1 2011.
How this will affect Lovefilm isn't clear yet. In the US, Amazon offers an HD movie rental service so we could see Lovefilm rebranded or tweaked to deliver the UK version.
The possibility of HD movies through your PS3 is a something we’d be interested in.
We'll bring you more news on the Amazon Lovefilm deal as soon as we have it.