Comcast in Advanced Talks to Acquire Free TV Service Xumo

By Patience Haggin and Sahil Patel

Comcast Corp. is in advanced talks to acquire video-streaming company Xumo LLC, according to people familiar with the matter, as the cable giant prepares to launch its own streaming service.

Talks between the two companies are exclusive, and it is possible that negotiations could break down, some of the people said. Financial terms of the prospective deal couldn't be learned.

Xumo is one of a handful of companies that offer a free, ad-supported video-streaming service across a range of internet-connected TVs. Others include ViacomCBS-owned Pluto TV, which was acquired for $340 million in January, and Tubi TV.

Irvine, Calif.-based Xumo TV formed in 2011 by Viant Technology LLC, which was then known as Interactive Media Holdings. One of Xumo's shareholders is magazine and TV company Meredith Corp. Xumo's app is available on services including Roku and on smart TVs from manufacturers such as Vizio, Panasonic and Samsung.

Write to Patience Haggin at patience.haggin@wsj.com

(END) Dow Jones Newswires

December 26, 2019 17:25 ET (22:25 GMT)

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