News Update: Amazon.com Approached Media Companies To Start An Online Video Subscription Service

Amazon.com Inc. (NASDAQ:AMZN) approached media companies including Time Warner Inc. (NYSE:TWX) with plans to start an online video subscription service to compete with Netflix (NASDAQ:NFLX), according to a Bloomberg report, which cited people familiar with the matter. The service would consist of older films and TV shows and would be sold for a monthly fee by the company. According to the report, talks are in early stages and have the potential to fall apart.

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