Amazon, a US-listed online retailer, has reportedly made a takeover offer for UK-based movie distribution company Lovefilm.

Amazon owns 42% of the target after combining its European rental operation with Lovefilm in 2008 and buying out one of the company’s venture capital backers.

The takeover offer would value Lovefilm at £200m ($311m), according to news provider Sunday Times.

A spokesman for Lovefilm declined to comment on the story when contacted by newswire Reuters, while Amazon could not be reached by it for comment.

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