Comcast Buys Fandango

Cable provider Comcast said Wednesday that it has reached an agreement to acquire Los Angeles-based Fandango, an online site that provides movie information, showtimes, and tickets. Financial terms of the deal were not disclosed. According to Comcast, it will launch, a new online entertainment destination in connection with the deal. Fandango is backed by Accretive Technology Partners, Technology Crossover Ventures, and theater chains. The deal is expected to close in Q2. Banc of America Securities advised Fandango in the deal, and the firm is expected to remain in Los Angeles.