Walmart announced Tuesday that it’s buying TV maker Vizio for $2.3 billion to shore up its advertising business and create a more potent rival to Amazon’s booming ad business. By acquiring Vizio, Walmart can now sell ads through streaming services on television. “This accelerates Walmart’s advertising as it moves into streaming TV opportunities,” said Andrew Lipsman, an independent media analyst. The acquisition could make Walmart a bigger presence in the TV streaming wars, especially if Walmart acquires a streaming service, Lipsman said. Groceries, which make up more than half of Walmart sales, carry razor-thin margins.

Source: CNN February 21, 2024 03:02 UTC