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Stock impact report

Amazon scraps plans for a bundled video service [CNBC]

Alphabet Inc. - Class C Capital Stock (GOOG) 
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm Check Earnings Report
US:NASDAQ Investor Relations: abc.xyz/investor
Company Research Source: CNBC
Shannon Stapleton | Reuters Jeff Bezos Amazon.com has scrapped plans to launch an online streaming service bundling popular U.S. broadcast and cable networks because it believes it cannot make enough money on such a service, people familiar with the matter told Reuters. The world's largest online retailer has also been unable to convince key broadcast and basic cable networks to break with decades-old business models and join its a la carte Amazon Channels service, the sources said and has backed away from talks with them. The reversals come a month after the abrupt departure of Roy Price from his job as head of Amazon Studios, the company's high-profile television production division, following an allegation of sexual harassment, which he has contested. They show how difficult it is for Amazon to change entrenched habits in the U.S. entertainment business in the same way that it has done in retail, cloud computing and other areas. An Ama Show less Read more
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