Wal-Mart Buys Vudu To Deliver Movies Via Broadband2010-02-23 10:42 by DanielaTags: Walmart, Vudu, broadband
Wal-Mart Stores is jumping back into digital-movie delivery with the acquisition of Vudu, a Silicon Valley startup that offers some 16,000 videos for rent or download-to-own through Internet-connected set-tops. The move puts the world's largest retailer back into the fast-evolving market for delivering paid entertainment content over broadband Internet pipes, territory that is being staked out by players ranging from Netflix and Apple to major cable operators like Comcast and programmers like HBO. Financial terms of the Vudu deal were not disclosed. Wal-Mart - which had $405 billion in sales last year - noted the acquisition is not material to earnings for its quarter ending April 30. Wal-Mart paid "slightly more than" $100 million for Vudu, The Wall Street Journal reported, citing an anonymous source. "The real winner here is the customer," Wal-Mart vice chairman Eduardo Castro-Wright said in announcing the deal. "Combining Vudu's unique digital technology and service with Wal-Mart's retail expertise and scale will provide customers with unprecedented access to home entertainment options as they migrate to a digital environment." Read more -here-
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