Walmart Inc. is canceling its plans to launch a new video-streaming service, CNBC reported Jan. 17, citing anonymous sources.
The Wall Street Journal reported in July 2018 that the retail giant hired television executive Mark Greenberg to work on the project.
According to CNBC, Walmart decided to not pursue the project because talks with Greenberg failed in 2018. Greenberg had reportedly discussed developing a service aimed at Middle America with Walmart, but the latter did not want to make a large investment in the content business.
The company will instead focus on its video-on-demand service, VUDU Inc., CNBC reported.