{"id":24013,"date":"2024-02-21T03:23:38","date_gmt":"2024-02-21T09:23:38","guid":{"rendered":"https:\/\/ustower.net\/?p=24013"},"modified":"2024-02-21T03:23:44","modified_gmt":"2024-02-21T09:23:44","slug":"walmart-is-buying-tv-maker-vizio-in-play-for-ad-business","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=24013","title":{"rendered":"Walmart is buying TV maker Vizio in play for ad business"},"content":{"rendered":"\n<p class=\"has-medium-font-size\">Walmart will acquire the television maker Vizio for $2.3 billion, the retail chain announced Tuesday.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">The retailer said in a press release that the acquisition of Vizio and its smart TV operating system, SmartCast, will help grow Walmart\u2019s media business by \u201cbringing together VIZIO\u2019s advertising solutions business with Walmart\u2019s reach and capabilities.\u201d<\/p>\n\n\n\n<p class=\"has-medium-font-size\">\u201cThere is a lot to be excited about with this acquisition,\u201d Seth Dallaire, Walmart\u2019s executive vice president and chief revenue officer, said in a statement.&nbsp;<\/p>\n\n\n\n<p class=\"has-medium-font-size\">\u201cWe believe VIZIO\u2019s customer-centric operating system provides great viewing experiences at attractive price points,\u201d he added. \u201cWe also believe it enables a profitable advertising business that is rapidly scaling.\u201d&nbsp;<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Walmart CEO&nbsp;<a href=\"https:\/\/thehill.com\/people\/doug-mcmillon\/\"><u>Doug McMillon\u2002<\/u><\/a>also touted the Vizio acquisition on a company earnings call Tuesday for providing \u201cthe opportunity to reach and serve customers in new ways and connect more dots for those that advertise with us.\u201d<\/p>\n\n\n\n<p class=\"has-medium-font-size\">The retailer had a strong fourth quarter, its latest earnings report showed, with revenue up 6 percent from last year to $648.1 billion.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Vizio CEO William Wang described the acquisition as \u201cthe ideal next chapter\u201d in the company\u2019s history.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">\u201cWalmart\u2019s approach is aligned with VIZIO\u2019s mission and vision, and our technology will help bring a scaled, connected TV advertising platform to Walmart Connect,\u201d Wang said in a statement.&nbsp;<\/p>\n\n\n\n<p class=\"has-medium-font-size\">\u201cThis transaction delivers immediate and compelling value to VIZIO stockholders and is a true testament to the hard work of the entire VIZIO team,\u201d he continued.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/thehill.com\/business\/4479595-walmart-buying-tv-maker-vizio-play-ad-business\/\">Thehill<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Walmart will acquire the television maker Vizio for $2.3 billion, the retail chain announced Tuesday. The retailer said in a press release that the acquisition of Vizio and its smart TV operating system, SmartCast, will help grow Walmart\u2019s media business by \u201cbringing together VIZIO\u2019s advertising solutions business with Walmart\u2019s reach and capabilities.\u201d \u201cThere is a [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":24014,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1155],"tags":[6819,26769,26768,26767,2725],"class_list":["post-24013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-acquisition","tag-retail-chain","tag-tv-maker","tag-vizio","tag-walmart"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/24013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24013"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/24013\/revisions"}],"predecessor-version":[{"id":24015,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/24013\/revisions\/24015"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/24014"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}