LA-Based Fandango Acquires Rival MovieTickets
LOS ANGELES (CBSLA) – Fandango, the Los Angeles-based digital movie information and ticketing network, announced Friday it has signed a definitive agreement to acquire its rival MovieTickets.com, an online movie ticketer that operates in the United States, Canada, the United Kingdom and Latin America.
Fandango currently sells tickets for more than 33,000 theaters worldwide, while MovieTickets covers 29,000, according to Variety.
In addition to building its domestic business, Fandango earlier this year launched online and mobile ticketing destinations at Ingresso.com in Brazil and Fandango Latin America to service multiple Latin American countries, including Peru, Colombia, Argentina, Mexico, Chile, Ecuador and Bolivia.
The addition of MovieTickets will help Fandango increase its presence in Latin America, especially in the countries of Argentina and Mexico, company officials said.
The deal -- terms were not disclosed -- is subject to customary closing conditions and is anticipated to close in the fourth quarter. MovieTicket will continue to operate from its headquarters in Boca Raton, Florida.
According to a statement issued by Fandango, the addition of MovieTickets will further its "goal of full national coverage, ensuring that moviegoers can purchase advance tickets to their favorite local theaters anytime, anywhere and on any device."
The acquisition "will bring to Fandango's ticketing network new exhibitors, including National Amusements, Cineplex, Landmark Theatres and Marquee Cinemas, as well as many independent theater chains. It will also expand the company's footprint in Latin America, and establish a ticketing presence in Canada and the United Kingdom for the first time."
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