Comcast To Buy Movie Site Fandango

Update: We’re hearing the price was around $200 million.

This afternoon Comcast announced that it will acquire movie site Fandango. The price isn’t being disclosed, but we’re working on it.

Fandango generates revenue from the sale of movie tickets online, and via advertising on its site. February Comscore statistics puts Fandango at 3.8 million unique visitors generating 39 million page views (see the last chart in this post for a comparison with other movie sites). They sell tickets to 15,000 screens in 1,300 theaters.

The companies also announced that they will launch a new service this summer called Fancast which looks like it will be competing with online TV guides and IPTV startups like YouTube and Joost and others:

Fancast, which will launch this summer, will be a national entertainment site where people can search and discover television and movie content, while managing their viewing experience across multiple devices. With Fancast, consumers will be able to search for their favorite shows, movies, actors and actresses, or simply enjoy the video content on the site. Fancast will provide consumers with a place to discover when their favorite shows or movies are “on,” and where they can view them via television, video-on-demand, online or on other devices.

Fandango was founded in 2000 by seven large U.S. movie exhibitors. Investors include Accretive Technology Partners and Technology Crossover Ventures.