02:35 PM EST, 11/13/2024 (MT Newswires) -- Amazon.com ( AMZN ) is set to close its free, ad-supported streaming service Freevee and fold it into the subscription-based Prime Video platform, Bloomberg reported Wednesday, citing people with knowledge of the matter.

Some Freevee programming and staff will transition to Prime Video, though certain shows will remain in a free format due to contractual obligations, the report said. Amazon ( AMZN ) is exploring ways to offer these shows on its main website, it added.

Amazon ( AMZN ) did not immediately respond to MT Newswires' request for comment.

Amazon ( AMZN ) shares were up 2.2% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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