Walmart Is Buying TV Maker Vizio for $2.3 Billion in Move to Grow Its Ad Business

Walmart has agreed to buy TV maker Vizio, the companies announced Tuesday, as the largest U.S. retailer grows its high-profit ad business.

Walmart will acquire Vizio for $2.3 billion, or $11.50 per share, in cash. The big-box retailer announced the acquisition as it reported its fourth-quarter earnings.

Vizio shares, which spiked after reports of the deal first emerged last week, closed at $9.53 on Friday. They jumped 15% during premarket trading Tuesday.

Read the source article at CNBC