Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Wal-Mart to acquire Vudu

By Blake Ellis, staff reporter


NEW YORK (CNNMoney.com) -- Wal-Mart Stores Inc. has entered the market of movie distribution, agreeing to buy online video service Vudu, the company said Monday.

The deal, which positions Wal-Mart as a potential threat to companies such as Netflix (NFLX), is expected to close within the next few weeks, Wal-Mart said in a company statement.

Vudu allows customers to view movies instantly on their TVs after ordering the films online and has licensing agreements with major movie studios as well as independent and international distributors, offering a total of 16,000 movies.

"Combining Vudu's unique digital technology and service with Walmart's retail expertise and scale will provide customers with unprecedented access to home entertainment options as they migrate to a digital environment," Eduardo Castro-Wright, vice chairman of Wal-Mart (WMT, Fortune 500), said in a statement.

Vudu is developing hundreds of Internet applications and services that will allow viewers to stream movies to their TVs and Blu-ray disc players, and the video service has already partnered with Internet and media companies such as Facebook, Twitter and the Associated Press, Wal-Mart said. To top of page

Index Last Change % Change
Dow 17,651.26 -99.65 -0.56%
Nasdaq 4,725.64 -37.59 -0.79%
S&P 500 2,051.12 -12.25 -0.59%
Treasuries 1.78 -0.02 -0.89%
Data as of 3:51am ET
Company Price Change % Change
Bank of America Corp... 14.13 -0.23 -1.60%
Freeport-McMoRan Inc... 11.80 -0.21 -1.75%
Apple Inc 93.62 0.00 0.00%
Micron Technology In... 10.00 -0.36 -3.47%
General Electric Co 30.07 -0.56 -1.83%
Data as of May 4
Sponsors

Sections

Tesla CEO Elon Musk had said previously that the automaker would become "cash-flow positive" this year. But in a letter to shareholders Wednesday, Musk signaled that won't be the case after all. More

The jobs market is near full employment with 14 million jobs added since early 2010. Gas prices are cheap. Home prices are rising. The stock market is near record highs. So why does everyone think the economy stinks? More

Oakland-based tech startup Clef hosts dinners for the local community in a bid to resist gentrification and unite all types of industries that make up the city. More

Visa says new software will allow consumers to check out with chip cards as fast as swiping a card with magnetic strip. More