LeEco has informed us that its acquisition of VIZIO is not going to happen, due to "regulatory headwinds." Last July, it was announced that LeEco, a major media conglomerate in China that has since entered the U.S. market with a line of UHD TVs and smartphones, had aqquired VIZIO for $2 billion. Below is the statement we received from a LeEco representative.
LeEco Global Group Ltd. and VIZIO Inc. announced today that the merger agreement to acquire VIZIO will not 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.
Under the new agreement, LeEco and VIZIO will continue to explore opportunities to incorporate the Le app and content within the VIZIO connected CE platform, and engage in a collaborative partnership to leverage LeEco's EUI (Ecosystem User Interface) platform, along with the brand's exclusive content and distribution channels, to bring VIZIO products to the China market.
• VIZIO Acquired by China-Based LeEco for $2 Billion at HomeTheaterReview.com
• LeEco Enters U.S. TV Market at HomeTheaterReview.com.