Movies.com sale nets Disney USD14m

Tue Nov 25 2008, 09:40 AM

Disney gained USD14m from the June sale of Movies.com to online ticket service Fandango, a filing shows. Fandango, the online tickets retailer owned by Comcast, bought the domain from Disney earlier this year, without disclosing how much it paid. In its annual tax filing with the Security Exchange Commission (SEC), Disney says it sold Movies.com for USD17m, which resulted in a net gain of USD14m.

Deal Details

Disney launched the site in 2000 as MrShowBiz.com. It later rebranded it as Movies.com and partnered with Fox to make it a video on-demand platform, but never launched the service. The site now serves as a film information site for Fandango and hosts interviews, movie ratings and showbiz news.

The filing also shows Disney lost USD91m in a loan settlement with Lehman Brothers, the investment bank that went bankrupt in September.