The online DVD rental firm Lovefilm has been put up for sale for an estimated £200m, which could provide a £14m windfall for the company’s management. The business has grown rapidly since its inception six years ago and has recently received a number of bid approaches. It has hired Jefferies, the investment bank, to advise on these and work on a possible sale. Lovefilm, with 1.2m members, has become the market leader in mail-order film rental. It has bought out most of its rivals, including a deal last year to acquire the European rentals operations of Amazon, the internet retailer, for £63m