Amazon pays $500M for online video vendor Elemental

Amazon (NASDAQ: AMZN) has paid a reported $500 million to acquire Elemental Technologies, a Portland, Ore. provider of over-the-top video services to pay-TV operators and other companies involved in multi-screen distribution.

Amazon didn't disclose terms of the deal in announcing it. However, subscription news site The Information said the deal involved a $500 million all-cash transaction. Meanwhile, an Elemental spokesperson told FierceOnlineVideo that Elemental will retain its brand and product lines after the deal closes.

You can read the full FierceOnlineVideo report on this acquisition here.

Suggested Articles

Contrary to what stark video subscriber losses suggest about the state of the U.S. pay TV industry, PwC said that pay TV subscribers increase in 2019.

AT&T-owned DirecTV is prepping another round of price increases that will kick in early next year for subscribers to its satellite television service.

Comcast/NBCUniversal is planning an investor day on January 16 to discuss details about its upcoming streaming service, Peacock.