Walmart, Comcast in talks to develop and distribute smart TVs: WSJ

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FILE PHOTO: Walmart's logo is seen outside one of the stores in Chicago
FILE PHOTO: Walmart's logo is seen outside one of the stores in Chicago

(Reuters) - Walmart Inc and Comcast Corp are in talks to develop and distribute smart TVs, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

Under the terms being discussed by the companies, Walmart would promote TV sets running Comcast software and get a share of recurring revenue from Comcast in return, according to the report. (https://on.wsj.com/3jVRVcL)

Comcast, which is competing with Netflix and Apple Inc's Apple TV+ for a share in the crowded streaming landscape, would be able to promote its new streaming service, Peacock, in the smart TVs, the Journal added.

Walmart's vice-president of electronics, Ryan Peterson, said the retailer is "constantly having conversations with current and new suppliers about innovation and new products" but said the company does not share details on the ongoing discussions.

Comcast declined to comment.

Earlier this year, Walmart said its video-on-demand service, Vudu, would be bought by Comcast-owned movie ticketing service Fandango Media.

(Reporting by Nivedita Balu in Bengaluru; Editing by Shounak Dasgupta)