Walmart To Buy TV Maker Vizio For $2.3 Billion

Walmart has agreed to buy TV maker Vizio, the companies announced Tuesday, as the largest U.S. retailer grows its high-profit ad business. From a report: Walmart will acquire Vizio for $2.3 billion, or $11.50 per share, in cash. Vizio shares, which spiked after reports of the deal first emerged last week, closed at $9.53 on Friday. Walmart and its Sam's Club warehouse chain have long been major sellers of Vizio devices. But in buying the company, Walmart touted the potential to boost its ad business through Vizio's SmartCast Operating System, which allows users to stream free ad-supported content on their TVs.

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