Comcast has done one of its biggest Internet acquisition to date: it has acquired Fandango, the online movie tickets sales and info site. The terms of the deal were not disclosed. The deal is expected to close in the second quarter.
The company also announced that it plans to launch Fancast.com, a new site that will enable consumers to “search, discover, manage and enjoy their entertainment experience across many devices and channels, including television, computers, DVDs and wireless services”.
Both Fandango and Fancast.com will be run by Comcast Interactive Media, the digital media arm of Comcast which was formed last year. Fandango, based here in LA, will continue to be run by CEO Chuck Davis.
Some more details:
— Fandango has between 4 and 5 million unique visitors each month.
— Investors included Accretive Technology Partners, Technology Crossover Ventures, and theater chains.
— It was started in 2000 by seven of the 10 largest movie exhibitors in the U.S. including AMC Theatres, Carmike Cinemas and Cinemark Theatres.
— Fandango will provide key commerce capabilities for CIM sites and will be an additional source of traffic and revenue.
— CIM sites, including Comcast.net and Fancast.com, will prominently feature Fandango.
— This is ominously worded: “Comcast will leverage its experience as the nation