Court Upholds Loews Contract With Fandango
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A U.S. Bankruptcy Court judge in New York upheld an exclusive online-ticketing contract between Fandango Inc. of Los Angeles and the Loews-Cineplex Entertainment chain of movie theaters.
The ruling is an important victory for Fandango in its battle against archrival AOL Moviefone, a subsidiary of AOL Time Warner Inc. In Loews-Cineplex’s bankruptcy proceedings and in a separate lawsuit, Fandango has accused Moviefone of trying to lure away the theater chain, which was one of the founding partners of Fandango and remains a minority owner.
Fandango also announced that Edgar Bronfman Jr., vice chairman of Paris-based Vivendi Universal, is joining its board of directors and becoming a minority investor.
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