Comcast Reaches Agreement to Acquire Fandango and Announces Plan to Launch Fancast.com, New National Online Destination

Comcast Interactive Media Makes Strategic Addition with Fandango, One of

Web's Top Movie and Entertainment Sites

    PHILADELPHIA and LOS ANGELES, April 11 /PRNewswire-FirstCall/ --
 Comcast Corporation ( CMCSA, CMCSK), the nation's leading provider
 of cable, entertainment and communications products and services, today
 announced that it 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.
     About Comcast
     Comcast Corporation ( CMCSA; CMCSK) (http://www.comcast.com) is
 the nation's leading provider of cable, entertainment and communications
 products and services. With 24.2 million video customers, 11.5 million
 high-speed Internet customers, and 2.5 million phone customers, Comcast is
 principally involved in the development, management and operation of
 broadband cable systems and in the delivery of programming content.
     Comcast's content networks and investments include E! Entertainment
 Television, Style Network, The Golf Channel, VERSUS, G4, AZN Television,
 PBS KIDS Sprout, TV One, four regional Comcast SportsNets and Comcast
 Interactive Media, which develops and operates Comcast's Internet business.
 Comcast also has a majority ownership in Comcast-Spectacor, whose major
 holdings include the Philadelphia Flyers NHL hockey team, the Philadelphia
 76ers NBA basketball team and two large multipurpose arenas in
 Philadelphia.
     About Fandango:
     One of the Web's top movie and entertainment destinations, Fandango
 sells tickets to more than 15,000 screens. Fandango entertains and informs
 consumers with reviews, commentary and trailers, and offers the ability to
 quickly select a film, plan where and when to see it, and conveniently buy
 tickets in advance. Fandango is available at www.fandango.com,
 1-800-FANDANGO and via your wireless mobile device at mobile.fandango.com.
 Fandango theater partners include the nation's leading exhibitors: AMC
 Theatres, Carmike Cinemas, Century Theatres, Cinemark Theatres, Edwards
 Theatres, Regal Cinemas and United Artists Theatres, as well as American
 Cinematheque, Brenden Theatres, Bow Tie Cinemas, CineArts Theatres,
 Cineplex Galaxy Cinemas, Cobb Theatres, Colorado Cinemas, Hollywood
 Theaters, Kerasotes Theatres, IMAX, Majestic Crest Theatre, Premiere
 Theatres, R/C Theatres, and Wehrenberg Theatres.
     About Comcast Interactive Media:
     Comcast Interactive Media (CIM), a division of Comcast Corporation
 ( CMCSA, CMCSK), develops and operates Internet businesses focused
 on entertainment, information and communication, including Comcast.net. CIM
 builds upon Comcast's extensive assets and experience as the country's
 largest video and broadband service provider and leverages Comcast's
 advanced broadband network, technology, and content relationships to build
 innovative new online services. In addition to comcast.net, CIM's products
 include Ziddio.com, a national multi-platform user-generated site bringing
 together premium networks and partners to host co-branded contests with
 unique prizes; GameInvasion.net, a national online site offering a rich
 entertainment experience for hardcore gaming enthusiasts; and thePlatform,
 the industry- leading provider of digital media publishing solutions
 enabling major content owners and service providers to manage and publish
 media over broadband and wireless networks to multiple devices. CIM will
 continue to roll-out new national online sites in 2007.
 
 

SOURCE Comcast