Update (8:30 a.m. ET): According to Bloomberg Terminal, Amazon is not expected to make a bid for EA, citing CNBC sources.

Original Story: According to GLHF sources, Amazon will announce today that it has put in a formal offer to acquire Electronic Arts (EA), the publisher behind Apex Legends, FIFA, Madden, and more.

Rumors have been circling online for a few weeks about a potential EA buyout, with Apple, Disney, and Amazon listed as potential buyers. As per our sources, Amazon has finally made an offer.

It’s a smart business move from Amazon, which is also making big moves in television. After the success of The Witcher and Arcane on Netflix — both shows built around big video games — Amazon could potentially use EA’s franchises as settings for new shows. Mass Effect, Dragon Age, Dead Space — there’s plenty of potential in EA’s library for transmedia opportunities.

This news comes after a range of unprecedented acquisitions and consolidation in the video game space, with the biggest of them being Microsoft’s purchase of Acitivison Blizzard for $69 billion.

According to our sources, the announcement will be made later today. We’ve reached out to Amazon and EA for comment and will update you if we hear anything back.

Written by Kirk McKeand on behalf of GLHF.