The curtains have closed on MoviePass, the once influential theater subscription service that offered its users unlimited movies per month for a flat fee of $9.95. (THR)
Helios and Matheson Analytics, the parent company of MoviePass, said that it formed a strategic review committee comprised of independent directors, to identify, review and explore all strategic and financial alternatives for the company. (Deadline)
Among the options it’s considering are a sale of the company in its entirety, a sale of the company’s assets, including MoviePass, Moviefone and MoviePass Films, as well as the possibility of a reorganization of the company. (CNBC)
On Friday, MoviePass notified remaining subscribers that it would be shutting down the service effective Sept. 14, 2019, because its “efforts to recapitalize MoviePass have not been successful to date.” (Variety)