Flixster buys Rotten Tomatoes from News Corp.

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Flixster buys Rotten Tomatoes from News Corp.

Flixster has acquired movie review site Rotten Tomatoes from the IGN division of News Corp., according to a statement released Monday.

For those who aren't familiar with it, Flixster is a user-generated movie review site. They also feature a robust mobile offering, which includes the most popular movie app for the iPhone, as well as apps for Android, Palm Pre, and Blackberry. The combination of Flixster's user-written reviews and Rotten Tomatoes' critic reviews are likely to complement each other well. But given that Rotten Tomatoes' scores are already incorporated into Flixster's offerings on the Web and on mobile devices, so it should be interesting to see what else Flixster can accomplish with this new acquisition.

The exact terms of the acquisition have yet to be revealed, but equity played a role, as News Corp. will receive a minority stake in Flixster. Rumors were swirling about this deal in December, when Kara Swisher broke the news about the coming acquisition. However, Flixster's integration with MySpace, as outlined by Swisher at the time, has yet to materialize. Flixster has previously raised $7 million in funding from venture and angel investors. Flixster is looking very strong coming out of this acquisition, being the current leader in the mobile space and setting themselves up for a very strong future online.

Source - CNET