Big Entertainment to Acquire CinemaSource
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Big Entertainment Inc. signed a definitive agreement to acquire the assets of CinemaSource Inc., described as the nation's largest provider of movie showtime listings to the Internet industry.
The deal involves 436,191 shares of Big Entertainment common stock and $6.5 million in cash. The stock closed last at $12 7/16, up 5/16.
Internet portals and Web sites that obtain their movie showtime listings from CinemaSource include Yahoo!, MSN, Excite, Go Network, CitySearch, and Zip2, among others.
The movie showtime listings data that CinemaSource provides will be an integral part of the online movie ticketing service to be offered by Hollywood Online, operator of hollywood.com, the online movie information Web site that BigE has contracted to acquire from Times Mirror Co.
Big Entertainment was founded by Rubenstein and Laurie Silvers, who earlier in their careers founded the Sci-Fi Channel. BigE owns bige.com, an e-commerce studio store offering thousands of entertainment products from Hollywood studios and popular culture.