Wal-Mart Buys Online Movie Company VUDU

Wal-Mart looks to be moving into the online movie business again with its announcement that it is purchasing VUDU. The company currently streams content to Internet-enabled HD TV systems and Blu-ray players.

VUDU's library includes about 16,000 movies for rent and for sale, which gives Wal-Mart a ready-made online movie service. Wal-Mart's previous attempt at jumping into the online movie rental and sale business flopped, leaving Apple's iTunes Store and Amazon.com untouched.

According to VUDU, it will continue to develop products for in-device content delivery along with its applications for platforms such as Facebook and Flickr.

Terms of the deal haven't been announced, although Wal-Mart and VUDU expect to complete the transaction in the coming weeks.