Multiple reports have suggested that Amazon is developing a standalone TV streaming service that will be aimed at cord-cutters. However, if a new report is to be believed, the company has decided to give up on its plans to launch a standalone online TV streaming service. Previous reports had claimed that the service would bundle popular broadcast and cable networks in the country.

The main reason Amazon is believed to have decided to let this go is that the company believes that it can’t make enough money on the service.

Reuters reports that Amazon has also been unable to convince important broadcast and basic cable networks to ditch their conventional business models and join its a la carte Amazon Channels service. Amazon has now reportedly backed away from talks with them.

That’s not to say that Amazon is losing interest in the entertainment niche. On the contrary, it recently announced the purchase of global TV rights to The Lord of the Rings. Amazon is planning to develop a multi-season series that will bring in more subscribers for its Prime Video service.

Amazon could decide to change course and try to launch such a service once again, but for now, the talks between the company and key stakeholders are said to be over.

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