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Amazon Said to Weigh Creating a Online Pay-TV Service Inc. is exploring the creation of an online pay-TV service to complement its existing video offerings and has reached out to major media companies including CBS Corp. and Comcast Corp.’s NBCUniversal about carrying their channels, according to people familiar with the matter.

Amazon’s deliberations are preliminary, said the individuals, who asked not to be identified discussing negotiations. Some of the talks date back several months, according to one of the people.

A live service would expand the online retailer’s role in video entertainment and bring it into direct competition with pay-TV providers like Comcast and AT&T Inc. Other companies are offering or experimenting with...