Amazon Now Outright Owns Move Rental/Streaming Company LOVEFiLM.

LOVEFiLM launched an application on the PlayStation 3 late last year.

According to VentureBeat, Amazon went ahead with the purpose because of the company's streaming solutions. Apparently, with 20 percent of the service's movies available digitally, Amazon jumped at the acquisition opportunity. Amazon's not announced the purchase figure, but it's believed to be around $200 million. Before the outright purchase, Amazon already owned a 42 percent share in the company.

As far as we understand, the acquisition will not affect the current status of LOVEFiLM on PlayStation 3.

[source vg247.com]