Photo: Chesnot / Getty Images

Netflix is in the early stages of developing a "sharp, balanced" news show, sources tell MarketWatch. The show would be a weekly news magazine show, similar to the style of CBS's "60 Minutes" or ABC's "20/20."

Why it matters: The tech giant has invested upwards of $8 billion in content to lure viewers from tech and legacy television rivals, but has steered clear of original news so far — with the exception of mostly licensed documentaries.

Technology platforms have traditionally stayed away from news shows, because it can be difficult to compete with the journalistic quality and ethos of networks that are experts in news-gathering and have the infrastructures to support investigative work with a quick turnaround.

  • The state of play: "60 Minutes" turned 50 years old last year. ABC's "20/20" will turn 40 this year.

However, Netflix may be wading into more serious entertainment content, with rumors swirling — first reported by the NYT last week — that the tech giant is in talks with former President Barack Obama about creating a documentary series highlighting uplifting American stories.

Our thought bubble: Traditional broadcast has recently competed more aggressively with cable news, as the 24/7 political news cycle driven by President Trump has gauged consumer interest. News content ahead of the 2018 midterms could be a strong opportunity for Netflix to compete with both broadcast and cable television networks for viewership.

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Updated 1 hour ago - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

New Zealand confirmed Thursday there are now 13 local cases linked to the four who tested positive for COVID-19, ending 102 days with no community spread. Auckland locked down Wednesday for 72 hours and the rest of NZ is under lesser restrictions.

By the numbers: Over 749,400 people have died of the novel coronavirus globally and over 20.6 million have tested positive, per Johns Hopkins. More than 12.8 million have recovered from the virus.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 20,624,316 — Total deaths: 749,421— Total recoveries: 12,831,800Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 5,197,147 — Total deaths: 166,027 — Total recoveries: 1,714,960 — Total tests: 63,252,257Map.
  3. Politics: Pelosi says Mnuchin told her White House is "not budging" on stimulus position.
  4. Business: U.S. already feeling effects of ending unemployment benefits.
  5. Public health: U.S. records deadliest coronavirus day of the summer — America's two-sided COVID-19 response
  6. Education: New Jersey governor allows schools to reopenGallup: America's confidence in public school system jumps to highest level since 2004.

Bob Woodward's new book details letters between Trump and Kim Jong-un

Bob Woodward during a 2019 event in Los Angele. Photo: Michael Kovac/Getty Images

Journalist Bob Woodward has obtained "25 personal letters exchanged" between President Trump and North Korean leader Kim Jong-un for his new book, "Rage," publisher Simon & Schuster revealed on Wednesday.

Details: In the letters, "Kim describes the bond between the two leaders as out of a 'fantasy film,' as the two leaders engage in an extraordinary diplomatic minuet," according to a description of the book posted on Amazon.