tl;dr
Amazon (NASDAQ:AMZN) is reportedly in talks to invest in bankrupt media company Diamond Sports Group, continuing its push to obtain more sports media rights. According to The Wall Street Journal, the talks, which are active and ongoing, could result in Amazon making a strategic investment in Diamond...
Amazon (NASDAQ:AMZN) is reportedly in talks to invest in bankrupt media company Diamond Sports Group, continuing its push to obtain more sports media rights. According to The Wall Street Journal, the talks, which are active and ongoing, could result in Amazon making a strategic investment in Diamond and offering a multi-year streaming partnership. This move could significantly add to Amazon's sports content, as Diamond Sports Group holds the local television rights for multiple MLB, NBA, and NHL teams. Additionally, Sinclair (NASDAQ:SBGI), which owns Diamond Sports Group, saw its stock price rise notably on the heels of this report. If the deal goes through, Amazon's Prime Video could become the streaming home for the games held by Diamond's rights, broadening its sports media portfolio even further.
More about Amazon.com Inc
Amazon.com, Inc. is a leading multinational technology company in the e-commerce, cloud computing, digital streaming, and artificial intelligence sectors. With a market capitalization of $1.54 trillion and a stock price of $3,545.95, Amazon has shown strong performance in the retail-catalog & mail-order industry. Despite a relatively high price-to-earnings ratio of 78.52, the company has demonstrated consistent growth, with a 1-year return of 159.98% and an earnings per share of 2.357. Market sentiment towards Amazon remains bullish, with the company being recognized as one of the most influential economic and cultural forces globally and the world's most valuable brand.
More about Sinclair Broadcast Group Inc
Sinclair Broadcast Group Inc. is a television media company in the United States, specializing in television broadcasting stations. With a market capitalization of $3,268,000,000 and a stock price of $7.65, the company's stock performance has shown a decrease of 0.926% with a 1.7% change in the Relative Strength Index (RSI) currently at 49.02. This indicates a neutral sentiment in the market, with potential for the stock to move in either direction. The company's performance may be influenced by factors such as support and resistance levels, as well as potential bullish or bearish trends in the market. It's important to note that past market behavior is not always a reliable indicator of future performance, and there may be uncertainties and risks associated with investing in this stock.
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