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Walmart's streaming service to be bought by Comcast-owned Fandango

Published 04/20/2020, 03:31 PM
Updated 04/21/2020, 03:05 AM
© Reuters. The Walmart logo is displayed on a screen on the floor of the NYSE in New York
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(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.

Latest comments

What a mistake. I was going to buy Walmart for that reason and more but now I am not sure.
stay home and buy imports.
I wouldn't sell anything to corrupt Comcast Universal
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