Roku shares sank 4.9 percent on Wednesday on a report that rival Amazon is launching a competing video service that’s free.

The Seattle-based Web giant is developing a free, advertising-supported video service for the 48 million people who use its Fire TV streaming video devices, according to The Information, a tech news site.

Amazon, whose shares rose 3.4 percent, to $1,998.10, didn’t comment. Roku fell $3.07, to $59.92.

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