Three companies involved in the movie industry are set to become part of the same family as Fandango announces its acquisition of Flixster and Rotten Tomatoes.
Flixster and Rotten Tomatoes are in the business of covering and rating films, respectively. The deal provides ticket service Fandango with new arms to deepen its integration with the movie industry. Flixster used to offer movie tickets through MovieTickets.com, but that’s clearly over with Fandango being in control. The new trio will make a single-stop hub for all things relating to movies.
Here’s the official statement from Fandango President Paul Yanover:
“Flixster and Rotten Tomatoes are invaluable resources for movie fans, and we look forward to growing these successful properties, driving more theatrical ticketing and super-serving consumers with all their movie needs. Our new expanded network will offer unparalleled capabilities for all of our exhibition, studio and promotional partners to reach a massive entertainment audience with innovative marketing and ticketing solutions that benefit from original content, home entertainment products, ‘super tickets,’ gifts with purchase and other new promotional opportunities.”
Time Warner, Flixster and Rotten Tomatoes’ now-previous owner of five years, has been in the process of shedding properties through spinoffs and sales over the last few years. This move, a sale, transfers the two movie-focused properties to competitor NBCUniversal; however, Fandango will continue operating independently and oversee Flixster and Rotten Tomatoes into the future. Time Warner will actually be sticking around as Fandango’s minority owner, but my guess is NBCUniversal will by them out either later this year or sometime next year. These are two major competitors in media, and I doubt they want to be part of the same product.
Exact terms of the acquisition, such as financial details, have not been disclosed.