![]() ![]() ![]() The company would also hold the membership interests of MoviePass Films, Helios and Matheson’s movie production company partnered with Emmett Furla Oasis Films the membership interests of MoviePass Ventures, which acquires economic interests in completed films and Moviefone, which the company acquired in April as a multimedia media information and advertising service.īut spinning off MoviePass to create this new publicly traded company isn’t a foregone conclusion. The new publicly-traded company would consist of four different assets that included the shares of common stock of MoviePass, held by Helios and Matheson, which currently comprise approximately 92 percent of the outstanding shares (excluding options and warrants) of MoviePass. “Since we acquired control of MoviePass in December 2017, largely has become synonymous with MoviePass in the public’s eye, leading us to believe that our shareholders and the market perception of might benefit from separating our movie-related assets from the rest of our company.”Īlso Read: MoviePass Owner Needs to Raise Capital as It Loses Stock Distribution Deal “For many years, has been focused on data analytics, and in that capacity we own assets like Zone Technologies which provides a safety and navigation app for iOS and Android users and a global security concierge service,” said Helios and Matheson CEO Ted Farnsworth in a statement. and other film related assets held by Helios and Matheson MoviePass would take ownership of the shares of MoviePass Inc. ![]() The new subsidiary, named MoviePass Entertainment Holdings Inc., would become a vertically integrated film production, marketing and exhibition company. announced plans on Tuesday to spin off the subscription movie-going service to create a new subsidiary that would become a separate publicly-traded company. Read our four-month investigation on the rise and fall of MoviePass on Business Insider Prime.MoviePass’s parent company Helios and Matheson Analytics Inc. Helios and Matheson has yet to sell MoviePass or its other assets. The company's stock plummeted and after months of trading below $1, it was delisted from the Nasdaq in February of 2019.įarnsworth, the mastermind of the $10-a-month plan, stepped down as the CEO of Helios and Matheson soon after MoviePass shut down and submitted an offer to purchase MoviePass and other assets owned by Helios and Matheson, including MoviePass Films and Moviefone. The price drop eventually led to downfall of MoviePass - which could never keep up with the demand and, as Business Insider reported in its definitive at the company's rise and fall, went to extreme lengths to keep the company afloat, which several sources said included blocking some subscribers out of their accounts - and Helios and Matheson along with it. But the company could not find a stable business model, as it had to repay the movie theaters full ticket price on most of the movies its subscribers saw. The price change made MoviePass a must-have for movie fans overnight as the company was bombarded with hundreds of thousands of new subscribers. Account icon An icon in the shape of a person's head and shoulders.
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