Walmart to refile antirust paperwork with Vizio deal 

Walmart plans to refile documents for federal antitrust review of its proposed deal to acquire Vizio for $2.3 billion. The Bentonville-based retailer confirmed the planned acquisition on Feb. 20.

According to a U.S. Securities and Exchange filing by Vizio, Walmart voluntarily withdrew its proposal to buy Vizio to refile the Hart-Scott-Rodino notification report form for the merger so the antitrust agency has additional time to review the proposed deal.

Walmart plans to refile the paperwork on March 29, and the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act will expire on April 29, according to the filing. The Vizio filing stopped short of identifying any potential objections from regulators.

Walmart has said adding Vizio would help grow its media and advertising business. Analysts with Stephens Inc. said Walmart and Vizio’s media/advertising business has the potential to disrupt the connected TV advertising market.

“Owning Vizio would give Walmart access to an active user base of nearly 18 million people and help unlock Vizio’s own software platform business that has annual advertising revenues growing north of 27% at a more than 60% margin rate,” said Nicholas Zangler, an analyst at Stephens.

Vizio commanded the no. 1 shelf-share position at Walmart and nearly 70% of its TVs are sold at the retailer, the analyst said. By acquiring Vizio, he said Walmart could potentially control 22% of the U.S. TV market between its private-label Onn brand and Vizio.