LeEco, Vizio Scuttle Proposed Merger - Broadcasting & Cable

LeEco, Vizio Scuttle Proposed Merger

Say ‘regulatory headwinds’ led to decision
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LeEco Global Group and Vizio announced Monday that they have dropped a proposed $2 billion merger deal between the CE companies.

An official speaking for both companies said they decided not to proceed “due to regulatory headwinds.”

“We continue to believe that there is great synergy between the two companies, and are pleased to announce that LeEco and VIZIO have reached an agreement that is a win for both companies,” the official said.

Under a new deal, LeEco and Vizio will continue to explore opportunities to incorporate the LeEco app and content within the Vizio connected CE platform. They’ll also partner on opportunities centered on LeEco’s EUI (Ecosystem User Interface) platform, along with “exclusive content and distribution channels,” to bring Vizio products to the China market.

For the full story go to Multichannel.com.

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