Jeff Bezos: Reed Hastings is Going Down

Amazon (NASDAQ:AMZN) is piling the pressure on beleaguered Netflix (NASDAQ:NFLX) by signing up with Fox (NASDAQ:NWS) for video content comprising movies and TV shows. The new content will stream through Amazon’s Prime Video service. This agreement is Amazon’s third, following up on similar deals with CBS (NYSE:CBS) and NBCUniversal (NASDAQ:CMCSA). The deal adds muscle in a fight to become a serious rival to Netflix.

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Amazon Prime members get unlimited, commercial-free, instant access to more than 11,000 movies and TV shows at no additional cost. “We have received very positive feedback from Prime members about Prime instant videos. Customers love the instant access to thousands of movie and TV favorites,” said Steve Oliver, director of Video at Amazon.com.

Amazon’s (NASDAQ:AMZN) stock is trading at $228.48 today, up 2.18%. Shares are up 39.12% in one year. The stock’s trading range for the year is between $151.40 and $244.00.

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