Comcast Reaches Agreement to Acquire Fandango and Announces Plan to Launch Fancast.com

Comcast
Corporation , has reached an agreement to
acquire Fandango, the nation’s premier destination for movie information,
showtimes and ticketing, and one of the Web’s top entertainment sites. The
company also announced plans to launch Fancast.com, a new national online
destination that will enable consumers to search, discover, manage and enjoy
their entertainment experience across many devices and channels, including
television, computers, DVDs and wireless services.

Comcast
has a major Internet presence, through Comcast.net, which is now a top 10 site
with more than 2.5 billion page views, more than 80 million videos viewed and
15 million unique visitors per month. Comcast will leverage its experience as
the nation’s largest buyer of video content, serving nearly 25 million cable
customers and 11.5 million broadband customers, to expand its existing
video-centric websites and create a new online destination, Fancast.com.

Fandango,
which is a top online brand and destination where millions of people visit
every month to learn about movies and purchase theater tickets, will be an
integral component of the Fancast user experience. Fandango.com is already a
top entertainment site and one of the nation’s largest movie sites with between
4 and 5 million unique visitors each month. Fandango has long- term, exclusive
relationships with many national theater chains that provide it a consistent,
unique and dedicated audience of entertainment-oriented consumers. Working
closely with these exhibitor partners, Fandango will continue to pursue its
core mission of being the leading online destination for movie theater
information, showtimes and ticketing at Fandango.com.

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.

Both
Fandango and Fancast will be managed by Comcast Interactive Media (CIM), a
division of Comcast which develops and operates Internet businesses focused on
entertainment, information and communication. Fandango will provide key
commerce capabilities for CIM sites and will be an additional source of traffic
and revenue. CIM sites, including Comcast.net and Fancast.com, will prominently
feature Fandango, which will significantly expand Fandango’s current audience.

“Fandango
is one of the strongest entertainment brands online as well as a dynamic,
profitable business with a superb management team and rapidly growing
advertising revenue,” said Amy Banse, President of Comcast Interactive
Media. “Adding Fandango to Comcast Interactive Media and creating
Fancast.com will enable us to leverage our combined assets to offer consumers
an outstanding entertainment experience.”

“Comcast
will enable us to expand our reach with moviegoers, enhance our product, and
grow Fandango into an even bigger brand and stronger business,” said Chuck
Davis, Chairman and CEO of Fandango. “Fandango is all about helping
consumers with their entertainment decisions – and we’re excited that Comcast
will enable us to deliver our content and services to an even wider
audience.”

Fandango
will continue to be led by CEO Chuck Davis who will work with Comcast
Interactive Media to grow Fandango’s online entertainment and ticketing
business and expand the Fandango e-commerce experience across platforms and
brands. Fandango will remain headquartered in

Los Angeles.

Fandango’s
major investors include Accretive Technology Partners and Technology Crossover
Ventures and the nation’s leading theater chains. Banc of America Securities
LLC acted as financial advisor to Fandango in connection with this transaction.
The deal is expected to close in the second quarter.