Update: Amazon has released a statement, denying the Wall Street Journal's report that it wishes to launch a live streaming TV platform.

"We continue to build selection for Prime Instant Video and create original shows at Amazon Studios, but we are not planning to license television channels or offer a pay-TV service," an Amazon representative said.

Original story continues below...

Amazon could be planning to make an even bigger splash in the television market by launching a live television streaming platform to compete against traditional television services.

The over-the-top network is in the "early stages" of planning, according to the Wall Street Journal, which claims Amazon has approached three major networks with a view to acquiring content.

The report doesn't explain how the live service would interact with Amazon's existing original and archive content services, such as Prime Instant Video in the United States and Lovefilm in the UK.

However, it seems likely that if Amazon is able to win the rights to live content it would fit in nicely with original content like Betas and Alpha House.

Over the top

Rumours have been rife for months that Amazon is planning to launch an Apple TV-like set-top box, so it seems a safe bet that any live TV offering would be streamed through that box.

Apple itself is rumoured to be interesting in acquiring live content for streaming purposes as part of its long-anticipated Apple iTV proposition, but reportedly hit plenty of hurdles in the process.

Can Amazon succeed in shaking up the TV industry by going all in on an 'over the top' network? It wouldn't be the first to make such a move; WWE made its play to change the future of television at CES when it announced a 24-hour live streaming channel over the web.

Via The Verge