Fandango Buys Latin American Ticket Selling Company Cinepapaya
WASHINGTON (dpa-AFX) - Fandango, the most popular online movie ticket seller in the U.
S., has bought Cinepapaya, a Peru-based online ticket selling company, as Fandango expands its film market in to the more appealing Latin American market.
The acquisition of Cinepapaya gives Fandango access to markets in Mexico, Argentina, Colombia, Peru, Chile, Ecuador and Bolivia. Cinepapaya has deals with theaters in these countries that collectively have 1,200 screens.
Fandango had earlier this year acquired M-GO and Flixster/Rotten Tomatoes,, while last year it bought Ingresso.com in Brazil.
"This is an exciting time at Fandango," said President Paul Yanover. "While our business in the U.S. continues to accelerate across online, mobile and social platforms, we are bringing our innovative moviegoing products and services to even more consumers across Latin America. We are currently experiencing tremendous momentum in Brazil, with Ingresso's significant growth, and with the addition of Cinepapaya, Fandango will emerge as a leading online ticketer throughout Latin America."
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