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

Search for Jobs

Index Last Change % Change
Dow 19,549.62 297.84 1.55%
Nasdaq 5,393.76 0.00 0.00%
S&P 500 2,241.35 29.12 1.32%
Treasuries 2.35 -0.05 -2.05%
Data as of 3:51am ET
Company Price Change % Change
Bank of America Corp... 22.57 0.41 1.85%
Chesapeake Energy Co... 7.58 0.00 0.00%
Ford Motor Co 13.06 0.50 3.98%
Wells Fargo & Co 57.28 1.73 3.11%
Micron Technology In... 20.44 1.38 7.24%
Data as of Dec 7
Sponsors

Sections

A Bumble Bee senior executive will plead guilty to his role in a conspiracy among major seafood firms to fix the price of canned tuna. More

Now that smart home products are more affordable and ubiquitous, 2016 is ready to deliver a next-level celebration. More

For Americans under age 40, about half of them say they can't come up with $2,000 if an emergency came up, according to the New York Federal Reserve. More