Tags: Amazon | Internet | Pay-TV | Service

Amazon May Start Internet Pay-TV Service

Tuesday, 21 Jan 2014 07:54 PM

Amazon.com Inc. has approached U.S. media companies to acquire rights for an online pay-television service, according to people with knowledge of the situation.

The service would mark an expansion of the Web retailer’s Prime Instant Video subscription service by offering live programming similar to traditional pay-TV outlets, said the people, who asked not to be identified because the talks are private. Amazon, based in Seattle, began reaching out to media companies in recent weeks, one of the people said.

Amazon’s entry brings to three the number of companies planning to enter the Web-based pay-TV businesses in a challenge to existing cable and satellite providers. Sony Corp. this month that it plans a Web-based pay-TV service. Verizon Communications Inc. said today it will offer a nationwide U.S. service with technology acquired from Intel Corp.

Mary Osako, a spokeswoman for Amazon, didn’t immediately return a call for comment.

The Wall Street Journal reported the talks earlier.

Amazon shares advanced 1.9 percent to $407.05 at the close in New York. The shares have risen 2.1 percent this year.

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Amazon.com Inc. has approached U.S. media companies to acquire rights for an online pay-television service, people with knowledge of the situation told Bloomberg.
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Tuesday, 21 Jan 2014 07:54 PM
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