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Walmart Buys Vudu
Deal puts Walmart in direct competition with Netflix and Amazon.

Retail giant Walmart has agreed to acquire Vudu, reports The New York Times. Update: Walmart has confirmed the acquisition. See press release below.

Citing "two people briefed on the deal," the New York Times says Walmart and Vudu have already begun informing Hollywood studios and TV manufacturers about the deal.

Terms of the acquisition have not been determined.

The acquisition of Vudu, a start-up based in Santa Clara, Calif. founded in 2007, would put Walmart, one of the world's largest retailers of DVDs, in direct competition with Netflix and Amazon for digital movie dominance.

Rumors began swirling about Vudu's demise in 2008 after the developer of IP-based video on demand went through layoffs and CEO Mark Jung left.

In 2009, Vudu stopped making hardware and began offering its service through Vudu Apps on devices from LG Electronics, Mitsubishi, Samsung, Sanyo, Sharp, Toshiba, and Vizio.

According to The New York Times, Panasonic and Sony are the only major manufacturers that have not yet added Vudu to their devices.

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