Comcast Snags Fandango, Debuts New Video Site
Comcast said Wednesday it will acquire movie site Fandango, as well as launch a new entertainment site aimed and helping manage its entertainment experience across different devices and channels.
The Fandango acquisition will play a large part in the new site, called Fancast.com. The site will also continue operating as it had before the acquisition, as well as continuing its exclusive relationships with several major theater chains.
Fancast will operate almost as like a YouTube of sorts, allowing the consumer to search for information shows, movies, actors and actresses, as well as watch video content available from the site.
Comcast Interactive Media will run the site, and its content will be featured throughout the network of Comcast web sites, including Comcast.net and Fandango.com. Current CEO Chuck Davis will continue in his leadership role under the new owners.
"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," CIM president Amy Banse said.
Financial terms of the deal were not disclosed. Comcast said it expects the deal to close in the second quarter.