A recent report from Axios suggests that e-commerce giant Amazon (NASDAQ: AMZN) is discussing a strategic investment and streaming partnership with Diamond Sports Group, which operates Bally Sports, a bundle of U.S. regional sports networks with broadcasting rights to over 40 professional teams across the MLB, NHL, and NBA.

While nothing is finalized, it's a glimpse into Amazon's overarching media strategy that's steadily become a larger focal point for management. Here's the potential impact on Amazon's Prime business and what it could mean for investors over the long run.

E-commerce is Amazon's claim to fame. It's the runaway leader in the United States with over 37% share of online sales. Its cloud platform, Amazon Web Services (AWS), is also a leader in its field and the company's primary profit maker. But media could emerge as the company's next big business. Management has actively invested in wading deeper into the media industry.

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Source Fool.com