Walmart's streaming service to be bought by Comcast-owned Fandango
Reuters
Published Apr 20, 2020 03:31PM ET
Updated Apr 21, 2020 03:05AM ET
(Reuters) - Walmart (NYSE:WMT) Inc's video-on-demand service, Vudu, said on Monday it would be acquired by Fandango Media LLC, a movie ticketing service owned by cable company Comcast Corp (NASDAQ:CMCSA).
The terms or value of the deal were not disclosed.
Walmart bought Vudu over a decade ago, but the service, which allows customers to either buy or rent movies and TV shows, still lags far behind the monthly viewership numbers that competitors Netflix Inc (NASDAQ:NFLX) and Hulu pull in.
But Comcast is betting it can give the site a boost with Fandango, as the loss of cable TV subscribers forces it to focus its future around its internet business.
Comcast's "Peacock" streaming service was launched last week, with a library of NBC TV shows including 30 Rock and "The Tonight Show."
Vudu, which also offers a free ad-supported streaming option, said https://blog.vudu.com/vudu-to-be-acquired-by-fandango it will not be shutting down and will still operate separately from the FandangoNow pay-per-view service.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.