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MarketScreener Homepage  >  Equities  >  Nyse  >  Walmart Inc.    WMT

WALMART INC.

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NBCUniversal in Talks To Acquire Streaming Service Vudu from Walmart

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02/21/2020 | 05:44pm EDT

By Lillian Rizzo and Patience Haggin

Comcast Corp.'s NBCUniversal is in advanced talks to acquire streaming-video service Vudu from retail giant Walmart Inc., according to people familiar with the matter.

Vudu, which Walmart bought in 2010 for more than $100 million, allows consumers to buy or rent movies or shows. In 2016 Vudu launched a free, ad-supported service that includes thousands of movies and TV shows.

The financial terms the companies are discussing couldn't be learned. The discussions may not result in a deal, the people said.

A Walmart spokesman said the company is constantly having strategic discussions, but declined to comment further. An NBCUniversal spokesman declined to comment.

The acquisition talks come a few months before NBCUniversal launches a new streaming service, Peacock, which will include an ad-supported version for $4.99 a month and an ad-free tier for $9.99. The service will debut in April to Comcast and Cox Communications Inc. customers and to all consumers in July.

Vudu's ad-supported service would serve as a complement to Peacock, the people familiar with the matter said. Vudu's online movie-rental service would support NBCUniversal's movie-ticketing and rental business, Fandango Media LLC, which is said to have more than 30 million online and mobile monthly visitors.

Vudu's movie-rental business is said to be about seven times the size of Fandango's by revenue, according to a person close to the situation.

Walmart says Vudu is installed on more than 100 million devices across the U.S.

In 2018 Walmart considered expanding its video-streaming ambitions by launching a subscription-supported service separate from Vudu, to compete with offerings from Netflix Inc. and Amazon.com Inc., but the company chose not to enter such a crowded, competitive market, said a person familiar with the matter.

Media giants have been looking to acquire ad-supported streaming platforms to complement the subscription streaming services they are launching. Fox Corp. has expressed interest in buying the online video service Tubi, The Wall Street Journal reported Friday. Fox and Journal parent News Corp share common ownership.

Last year Viacom Inc., which is now part of ViacomCBS Inc., acquired Pluto TV, a free, ad-supported service, for $340 million.

NBCUniversal's parent, Comcast, is separately in exclusive discussions to acquire Xumo LLC, a free, ad-supported video-streaming service, the Journal previously reported.

Xumo would be aligned more with Comcast's Xfinity cable platform, known as X1, as well as the company's streaming device, Flex, said another person familiar with the matter. The X1 cable box serves as a one-stop shop for Comcast pay-TV subscribers, since it includes both cable programming and access to numerous streaming applications such as Netflix.

Flex is targeted at cord-cutters that remain broadband subscribers. Last year, Comcast began offering Flex to its broadband-only subscribers at no cost.

Write to Lillian Rizzo at Lillian.Rizzo@wsj.com and Patience Haggin at patience.haggin@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
COMCAST CORPORATION -5.91% 34.57 Delayed Quote.-23.13%
FOX CORPORATION -9.85% 22.51 Delayed Quote.-39.28%
NETFLIX, INC. -1.62% 357.12 Delayed Quote.10.37%
NEWS CORPORATION -6.88% 8.53 Delayed Quote.-39.67%
VIACOM INC. 3.20% 24.22 Delayed Quote.0.00%
WALMART INC. -0.22% 109.58 Delayed Quote.-7.79%
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Financials (USD)
Sales 2021 536 B
EBIT 2021 22 191 M
Net income 2021 14 259 M
Debt 2021 51 612 M
Yield 2021 2,02%
P/E ratio 2021 21,4x
P/E ratio 2022 20,1x
EV / Sales2021 0,67x
EV / Sales2022 0,65x
Capitalization 310 B
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Technical analysis trends WALMART INC.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 36
Average target price 127,64  $
Last Close Price 109,58  $
Spread / Highest target 27,8%
Spread / Average Target 16,5%
Spread / Lowest Target -10,6%
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Managers
NameTitle
C. Douglas McMillon President, Chief Executive Officer & Director
Gregory B. Penner Non-Executive Chairman
Dacona Smith Chief Operating Officer & Senior VP-Sam's Club
Brett M. Biggs Chief Financial Officer & Executive Vice President
Clay Johnson Enterprise Chief Information Officer & EVP
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