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Amazon Just Signed This Time Warner Unit as Its Latest Big Cloud Customer

November 28, 2017

Amazon.com said Time Warner’s broadcast unit Turner had signed up for its Amazon Web Services (AWS), a notable contract win for the Seattle tech company as competition within the fast-growing cloud computing market intensifies.

As part of the deal, Turner, the company behind CNN, TNT, and several other cable channels, will be migrating “decades of content” and much of its computing operations to AWS, it said in a statement on Tuesday.

The two companies did not say how much the deal was worth.

Historically, Turner (TWX) has kept most of its computing and storage operations in its own data centers.

In the past year, AWS (AMZN) grew by 42% year-on-year. It accounts for nearly 32% of the cloud computing market, which is estimated to be worth $14.4 billion as of the third quarter of 2017, according to research firm Canalys.

But Microsoft (MSFT) and Alphabet’s Google (GOOGL) are growing faster. In the third quarter of 2017, Microsoft’s Azure had annual growth of 90% to claim 14 percent of the market, while Google Cloud Platform grew 76% and now holds 6% of the market, Canalys said.