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 17,851.51 145.46 0.82%
Nasdaq 4,894.89 33.83 0.70%
S&P 500 2,090.54 14.48 0.70%
Treasuries 1.87 0.01 0.59%
Data as of 11:03pm ET
Company Price Change % Change
Bank of America Corp... 14.92 0.24 1.63%
Chesapeake Energy Co... 4.35 0.30 7.41%
Freeport-McMoRan Inc... 11.65 0.54 4.86%
Hewlett Packard Ente... 17.35 1.10 6.77%
Apple Inc 99.62 1.72 1.76%
Data as of 4:15pm ET
Sponsors

Sections

Shari Redstone seems to be at the center of the turmoil engulfing Viacom and her father Sumner Redstone. More

Andrew Crider lost his welding business and his home when the real estate market crashed. Now the Nevada man is offended by comments Donald Trump made showing the billionaire rooted for the housing collapse. More

Theranos faces a possible class action lawsuit just one week after it issued thousands of corrections to its blood tests. More