May 27, 1999 7:30 PM PDT
Short Take: AOL acquires MovieFone
America Online completed its purchase of telephone and online movie ticket service MovieFone. Closure of the $525 million stock deal, in which each share of MovieFone was exchanged for about one-third of a share of America Online stock, came immediately after MovieFone shareholders approved the transaction. AOL said the acquisition will give it access to a host of customers whose first online purchase will be a movie ticket.