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Comcast to Acquire Fandango

Cable-giant Comcast has reached an agreement to acquire movie-ticketing site for an undisclosed sum.

The popular ticket purchasing Website, which delivers 4-5 million unique visitors per month, will become a part of the Comcast Interactive Media (CIM) division.

In addition, Comcast also announced the summer launch of a Fandango companion site, Fancast. The new site will combine Comcast's existing web content with Fandango's in an attempt to create "a national entertainment site where people can search and discover television and movie content," according to a release put out by the companies.

Fandango is a "dynamic, profitable business with a superb management team," according to CIM President Amy Banse. "Adding Fandango to CIM and creating will enable us to leverage our combined assets."

Other CIM properties include user-generated Website and VOD channel and web digital media whitelabel thePlatform.