Comcast Deal Fans Plans for a Web Guide.(Comcast acquiring Fandango)
Multichannel News, April, 2007 by Spangler, Todd
By Todd Spangler Butter up the popcorn: Comcast is acquiring movie-ticketing site Fandango, which will provide a core piece of an online entertainment portal - Fancast.com - the No. 1 U.S. cable operator has slated for a summer launch. Comcast didn't disclose financial terms of the acquisition, which is expected to close in the second quarter.
Wachovia Securities analyst Jeff Wlodarczak estimated the multiple-system operator paid $200 million for Fandango, whose backers include seven of the 10 largest U.S. movie exhibitors. 'Adding Fandango to Comcast Interactive Media and creating Fancast.com will enable us to leverage our combined assets to offer consumers an outstanding entertainment experience,' Comcast Interactive Media president Amy Banse...
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