Amazon.com Inc. may be gearing up to expand its presence in the fast-growing and increasingly competitive video streaming market.

Citing three sources familiar with the matter, The Information today reported that the online retail giant is preparing to launch a free news service for its Fire TV family of streaming devices. The offering is expected to debut in a matter of months. According to the sources, Amazon is looking to offer consumers access to programming from a mix of national news networks and local stations.

It’s not yet clear which broadcasters will make their content available on the service at launch. Amazon is said to have held negotiations with Verizon Communications Inc., the owner of Yahoo News and Finance, but it’s not clear if the company has come aboard yet. There’s also no word on the number of local stations that will be accessible via the offering or what areas will be covered.

Amazon reportedly plans to monetize the service by airing advertisements. That’s the same business model Roku Inc., the company’s top rival in the streaming device market, has adopted with its free Roku Channel. The service provides ad-supported content from Yahoo, ABC and a number of other networks.

Amazon’s long-term vision is reportedly to extend its planned news offering beyond Fire TV to Alexa. The voice assistant already provides daily content from sources such as NPR and can be found in more than 100 million devices worldwide, which creates a potentially massive market for the retail giant.

The report of Amazon’s expanded ambitions in the streaming market comes just days after Apple Inc. unveiled a pair of new video services. Apple TV Channels, the first offering, enables users to watch content from HBO, Showtime, Starz and CBS All Access in one unified app. The service is joined by Apple TV+, which will provide a selection of original shows that the iPhone maker has produced in collaboration with big Hollywood names such as Oprah.

Photo: Amazon