Fandango Acquires Walmart-Owned Vudu

NBCUniversal’s ticketing and video-on-demand company Fandango has agreed to acquire streaming service Vudu, the companies announced today, the latest in a string of such acquisitions as the adoption of streaming accelerates.

The deal, terms of which were not disclosed, will significantly bolster the ad-supported streaming assets at Fandango, which is primarily a ticketing service that earns a percentage of the tickets it sells online.

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About 2,250 employees (45% of staff) will see a 15% pay reduction; another 750 employees (15% of staff) will have their pay cut by between 20 percent and 40 percent from May 4 to Sept. 4.

The remaining 2,000 employees won’t see a reduction in pay. Meredith will also freeze hiring and salary increases, and reduce its budget for freelancers.

The social network originally filed suit against the Department of Justice in October 2014.

The aim is to educate viewers on the importance of taking part, as well as to ease fears.

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