Comcast to Buy Fandango, Launch New Web Site

Looking to boost its Internet video presence, Comcast Corp. said Wednesday it will acquire movie ticketing Web site Fandango and plans to launch an online entertainment destination, Fancast.com.

The Comcast Interactive Media (CIM) division will manage Fandango and Fancast.com, which will let users manage their entertainment experience across multiple devices and channels. Terms of the Fandango deal were not disclosed and it is expected to close during the second quarter. Fancast.com will launch sometime this summer.

Comcast also teamed in February with social networking site Facebook in a deal that allows users to create and share videos and vie for a role in a new television series titled "Facebook Diaries."

This represents part of CIM’s strategy, which is to work with other social networking sites rather than develop its own, explained Caroline Marks, director of content development for the division.

CIM's products include Ziddio.com, a user-generated content site that Comcast said brings together networks and partners to host co-branded contests with prizes; GameInvasion.net; and thePlatform, a publishing system for content owners and service providers to manage and publish media over broadband and wireless nets.

“We’ve started building community features on our Ziddio service, but I don’t want to close anyone out,” Marks said in an interview at the Consumer Electronics Show in January. That, she explained, means linking to the most popular sites in a sort of hub-and-spoke fashion.

She said Comcast hadn’t seen “a significant erosion our current programming” because of social networking, adding that it’s a driver of online video. “We certainly need to embrace and evolve our product with it.”

Comcast said CIM will continue to roll out new online sites in 2007, but did not provide details.

Fandango said it has to 4 million to 5 million unique visitors a month and long-term, exclusive relationships with many national theater chains. The site sells movie tickets to more than 15,000 screens.

Comcast said Fandango will continue its pursuit of being the leading online destination for movie theater information, show times and ticketing. Fancast.com, Comcast said, will let consumers search for their favorite shows, movies, actors and actresses and watch video content.

Fandango will continue to be led by CEO Chuck Davis who will work with CIM to grow the site’s entertainment and ticketing business and expand its e-commerce experience across platforms and brands. Fandango will remain based in Los Angeles.

Comcast Corp. www.comcast.com  

Fandango www.fandango.com

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