Fandango to Acquire Rival MovieTickets.com
Despite the deal, MovieTickets.com will remain a stand-alone asset.
Fandango said Friday it has agreed to pay an undisclosed price to acquire MovieTickets.com, a longtime competitor to the leader in the online movie ticket industry.
The two rivals launched their businesses in the early days of the internet but have changed ownership occasionally.
Fandango is owned by Comcast, while MovieTickets.com is a joint venture of Hollywood Media Corp., National Amusements, Cineplex Entertainment, Marcus Theatres, Regal Entertainment Group, Time Warner and Viacom.
After the acquisition closes, MovieTickets.com will remain a stand-alone asset, continuing to operate at its headquarters in Boca Raton, Florida.
MovieTickets.com will join Fandango, Flixster Ingresso and Fandango Latin America to create a suite of movie ticketing properties serving hundreds of millions of moviegoers worldwide, according to the two companies. MovieTickets.com operates in the U.S., the U.K., Canada and Latin America.
"Teaming with Fandango will enable MovieTickets.com to further its mission and increase advance ticket sales," said MovieTickets.com CEO Joel Cohen.