Walmart agrees to buy smart TV maker Vizio for $2.3B — sending Roku stock plunging

Walmart has agreed to pay $2.3 billion to acquire smart television maker Vizio — a move to bolster the retailer’s burgeoning advertising business as it takes on rival Amazon.The deal, however, is seen as bad news for Roku, according to analysts. Roku, which also sells smart TVs and streaming devices, has an exclusive deal with Walmart to sell products fulfilled by Walmart on Roku devices.Shares of Roku were down by nearly 7% at the start of Tuesday’s trading session on Wall Street.The nation’s largest retai ...