(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.