Amazon merges Lovefilm with Prime

|By:, SA News Editor

Amazon (AMZN) will fold Lovefilm into its U.K. website next week in a move that will make the combined digital service the region's largest streaming provider.

Existing Lovefilm subscribers will receive the full load of Amazon Prime perks under their new Amazon Prime Instant Video membership at £79 per year. For comparison, Netflix currently charges £72 a year in the U.K.