Shares of Vizio Inc. surged in late afternoon trading following a report by the Wall Street Journal that Walmart is interested in acquiring the smart television maker for over $2 billion.
“The move would give Walmart more places where it can sell ads and pitch shoppers on goods,” according to people familiar with talks, adding the deal would allow Walmart to take on Amazon, which already sells its own brand of televisions.
WSJ noted, “The discussions between Walmart and Vizio are ongoing, and a deal may not happen.”
Vizio shares jumped as much as 32%. Trading was halted for volatility at least once.
It appears trading has resumed.
Could Walmart also be working on its own TV network?
The competition between Walmart and Amazon is heating up in the TV space.
