Monday, November 7, 2016
Report: Vizio Deal In Doubt As LeEco Hits Cash Crunch
The record-breaking, $2 billion acquisition of Irvine-based Vizio, which was announced in June, might be in doubt, according to a report today from Bloomberg. Bloomberg reports that the chairman of LeEco, Jia Yueting, said the company is "running out of cash" due to its pace of expansion. The deal to acquire Vizio has not yet closed.