Walmart (WMT) announced a $2.3 billion deal to buy TV manufacturer Vizio (VZIO) as the company moves to bolster its digital advertising and media business. In an interview with Yahoo Finance, Walmart CFO John David Rainey spoke on the deal, saying "It allows us to use their operating system ... to provide a new channel to actually provide better service to our customers and connect to them with data." DoubleVerify (DV) CEO Mark Zagorski joins Yahoo Finance to discuss the deal and how it can be used to boost Walmart's media business and stand out against competition. Zagorski comments on risks in the deal and what the deal can accomplish for Walmart: "The risk always is, there's other assets there that have to deal with Vizio as a set manufacturer. I don't think Vizio makes a lot of money off the actual devices themselves. Where they're making money off of is data. You're going to have to carry that device business to get the data out of it... If you look at linear TV ad spend, it's declining every year, connected TV ad spend is only growing, and combining that with the retail data that they're getting from their online transactions, their store transactions, putting that together with the CTV business, CTV data business, it's a powerful combo." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
Walmart is paying $2.3 billion for connected TV maker Vizio in a bid to rival Amazon's ecosystem.
Walmart (WMT) spread strong optimism by reporting robust fourth-quarter fiscal 2024 results, providing a big boost to its annual dividend and unveiling the $2.3 billion takeover of smart TV maker Vizio (VZIO).