Amazon Plans Digital TV/Movies Service
Seattle-based Internet retailer Amazon (NASDAQ: AMZN) is working on a new online digital TV and movies subscription service, challenging established competitors such as California-based Netflix (NASDAQ: NFLX). The e-commerce company has been pitching the Web-based service to media companies including General Electric’s NBC Universal (NYSE:GE), Time Warner (NYSE: TWX), News Corp. (NasdaqGS: NWSA) and Viacom (NYSE: VIA), according to The Wall Street Journal. Amazon is reportedly following a similar model to Netflix’s catalogue of older movies and TV shows available for instant streaming. For more information, see the WSJ story.