Walmart Buying Smart TV Maker Vizio
Walmart is buying smart TV maker Vizio for $2.3 billion, the companies announced Tuesday. They said the deal would serve as a boost to the retailer's media business by connecting Vizio's advertising solutions business to Walmart's reach. Walmart Chief Revenue…
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Officer Seth Dallaire said the deal "enables a profitable advertising business that is rapidly scaling. Our media business, Walmart Connect, is helping brands create meaningful connections with the millions of customers who shop with us each week.” In an X post, LightShed Management's Rich Greenfield said Walmart "is taking its advertising business, Walmart Connect, very seriously (advertising was mentioned 47 times over calendar 2023’s four earnings calls)." Later he posted, "Advertising, and specifically the TV advertising market is poised for meaningful disruption, with Walmart now chasing Amazon which has just turned on ads within Prime Video." The deal is subject to regulatory approval.