Here's a plot twist — one company is deciding not to launch a new streaming video service.
At a time when NBC, Disney, AT&T, Viacom, Apple and others are considering subscription services for cord cutters, Walmart is abandoning its plans, according to people familiar with the matter. The giant discount retailer opted not to move forward with a new streaming product after talks with veteran media executive Mark Greenberg fell apart last year, said the people, who asked not to be named because the discussions were private.
Instead, Walmart will focus on bolstering Vudu, the video service it acquired in 2010. Vudu offers a variety of movies and shows for free with ads or for purchase that can be rented or owned. Vudu is No. 3 in pay-per-view digital video, trailing Apple and Amazon, Variety reported in October.