NEW YORK (TheStreet) -- Amazon (AMZN) shares are climbing in early market trading following the announcement that the company has reached a multi-year content licensing agreement with Time Warner (TWX) owned HBO.
Amazon stock is down -0.6% to $327.63 in early market trading on Wednesday.
The deal makes Amazon's Prime Instant Video the exclusive online-only subscription home for HBO programming. The deal includes access to full seasons of all of HBO's shows, with back seasons of current shows slated to be available within three years of airing on HBO.
In addition to the online deal, HBO Go will be available on Amazon's Fire TV platform by the end of the year.
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TheStreet Ratings team rates AMAZON.COM INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate AMAZON.COM INC (AMZN) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and poor profit margins."