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Wesley Moore
Wesley Moore

LeEco Wont Acquire VIZIO, 2 TV Companies Remain 2

The spending spree has extended to US companies. In July, LeEco bought US TV maker Vizio for $2 billion. Last month, it acquired Dichotomy Creative Groups, bringing into the fold former Paramount Pictures' president Adam Goldman.

LeEco won’t acquire VIZIO, 2 TV companies remain 2

In a related entertainment and distribution deal that was meant to capitalize on the growing trend toward live streaming and internet distribution of content, a $2 billion agreement by Chinese tech and entertainment conglomerate LeEco to acquire LA-based TV maker Vizio is officially off due to "regulatory headwinds." The deal's collapse in early April was the result of tighter currency controls and a crackdown on China-U.S. deals, in addition to a cash crunch at LeEco, which has been facing financial difficulties and retrenching after rapid expansion into smartphones and electric vehicles, according to deal makers involved in the industry. The two companies will seek to collaborate on content and distribution now that the acquisition is off.


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