Netflix, the US DVD-by-post rental service could be coming to the UK, after LoveFilm announced that it is putting itself up for sale.

According to PaidContent, the company has confirmed to the industry website that "Lovefilm has received approaches and the board is considering options on on behalf of the group and its shareholders”.

The company, which is a third owned by Amazon in the UK, has seen massive growth in the last year as recession-hit Brits stay in and rent videos rather than go out to the cinema.

Earlier in the year the company's CEO, Simon Calver, announced that the company has just passed the 1 million customers mark, putting on around 100,000 customers in the last year.

No details of any deals have yet been given.