News

Vizio Announces Closing of $257 Million IPO

Vizio, the Irvine, Calif.-based consumer electronics brand, March 29 announced the closing of an initial public offering of 12.25 million Class A shares at purchase price of $21 per share, or $257.2 million. The shares began trading on the New York Stock Exchange March 25 under the symbol “VZIO.”

Vizio over the past year has branched out into ad-supported video, inking multiple distribution deals with content holders for its Internet-connected SmartCast televisions.

The company last year announced the launch of a dozen free kids and family linear TV channels, Movies Anywhere transactional movie purchase platform, and NBCUniversal’s Peacock streaming service.

Subscribe HERE to the FREE Media Play News Daily Newsletter!

“With increasing consumption on smart TVs, we are happy to make it easy for Peacock customers with Vizio smart televisions to stream all our content,” Maggie McLean Suniewick, president of business development and partnerships for Peacock, said in a statement last summer. “We offer Peacock as free to our distribution partners because we want people everyone to enjoy Peacock where and when they want it.”

Vizio shares are currently trading at $21.82 per share in midday trading.

Leave a Reply

Your email address will not be published. Required fields are marked *

9 − four =

This site uses Akismet to reduce spam. Learn how your comment data is processed.