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Jeff Bezos, CEO and founder of Amazon. Photo: Reed Saxon / AP

Amazon is ditching its plans to create an online streaming skinny bundle because it doesn't think it will be profitable enough, per Reuters. It has been unable to court traditional TV networks to bring their content to its Amazon Channels service.

Why it matters: Amazon has made large investments in video with the hope of increasing user engagement on its platform. It was hoping to dip into the TV streaming model, but the reported lack of confidence in the platform shows that the distribution economics behind the linear TV model are tough to completely reimagine for digital.

Amazon's content play: Experts predict Amazon will spend roughly $4.5 billion on content this year, a significantly larger investment than most of its cable rivals. It has been successful in securing the rights of original entertainment and programming, despite the reported difficulties in winning TV contracts. Just this week, it announced the purchase of global television rights to a multi-series showing of "The Lord of the Rings.”

Go deeper: From advertising to original content, Amazon's eating the media

Go deeper

2 hours ago - Health

WHO: Not yet known whether Omicron leads to more severe disease

Photo illustration: Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

The World Health Organization on Sunday said that it is not yet clear whether the newly discovered Omicron variant is more transmissible than other strains of the COVID-19 virus.

Why it matters: The agency's statement comes as the variant, discovered in South Africa, has already been detected in European and Asian countries.

7 hours ago - Health

Fauci: Omicron variant will "inevitably" be found in U.S.

Photo: Chip Somodevilla/Getty Images

Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, cautioned on Sunday that the COVID-19 Omicron variant will "inevitably" be found in the United States.

Driving the news: Fauci, Biden's chief medical adviser, told ABC's George Stephanopoulos on "This Week" that U.S. officials will meet with colleagues from South Africa later on Sunday to try to determine the severity of the cases, as countries scramble to learn more about the variant.

Updated 9 hours ago - Politics & Policy

Dems fear supply-chain blame

Illustration: Aïda Amer/Axios

As supply-chain kinks drive up prices and disrupt holiday shopping, Democrats are scrambling to show action and deflect blame.

Why it matters: With their party controlling both the White House and Capitol, vulnerable Democrats worry supply-chain snafus will hurt them in next year's midterms.