The lowdown

Catch up on what went down while you were doing you:

• 🚘 Nearly 100,000 Volkswagen workers strike in Germany over cost-cutting plans

• 🎬 Regal Cinemas secures $1.9 billion to restructure debt amid declining revenues

• 📉 Stellantis CEO Carlos Tavares steps down after clashes over falling sales

Featured story

Walmart Seals $2.3 Billion Vizio Deal

Walmart has completed its $2.3 billion all-cash acquisition of Vizio, bringing the TV manufacturer—and its lucrative ad business—under its corporate umbrella. The deal, which took 287 days to close, gives Walmart access to Vizio’s SmartCast OS, a platform with 19 million active accounts that generates the bulk of the brand’s revenue through advertising.

This isn’t just about selling TVs; it’s a power move into the ad-tech market. Vizio’s data-rich platform will pair with Walmart’s Onn smart TVs to compete with heavyweights like Roku and Amazon for a slice of the booming connected TV advertising market. The vertical integration also strengthens Walmart’s position as it continues to diversify beyond retail and into digital ecosystems.

By making an all-cash deal, Walmart signals its deep war chest and willingness to expand aggressively. With Vizio’s ad platform now in-house, the retail giant is positioned to not only sell hardware but also control the content and ads that keep customers engaged—and spending.

The content we're consuming today

Here’s what we’re reading this week:

• Vox: Marijuana goes mainstream as more Americans choose weed over alcohol 

• The Guardian: South Korean President faces impeachment over martial law announcement

• Omnitalk: Cameo redefines fame with its celebrity video platform open to all

Off-balance sheet items

The bottom line

Aquire new customers and drive revenue by partnering with us.

Balance Sheet is rapidly growing, with 1,500+ readers working in the world’s leading organizations. You can learn more about partnering with us here.