• HMNY Announces Plan to Spin Off MoviePass Into Separate Publicly Traded Company

    26 days ago - By Fortune

    The MoviePass saga continues.
    MoviePass parent company Helios and Matheson Analytics announced on Tuesday plans to spin off the ailing movie-subscription company into a new, publicly traded corporation called MoviePass Entertainment. The move would effectively allow HMNY to offload its entertainment-related properties. And in an odd twist, HMNY added that its public perception might be in better shape by shedding MoviePass.
    “Since we acquired control of MoviePass in December 2017, HMNY largely has become synonymous with MoviePass in the public's eye, leading us to believe that our...
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  • MoviePass to be jettisoned by parent company

    26 days ago - By Chron

    NEW YORK - MoviePass, the struggling discount movie ticket subscription service, is being spun off by the company that owns it.
    Helios and Matheson Analytics Inc. did not try to obscure the reasons why on Tuesday. MoviePass has become a burden.
    MoviePass drew in millions of subscribers, luring them with a $10 monthly rate. But that proved costly. Because MoviePass typically pays theaters the full cost of tickets - $15 or more in big cities - a single movie can put the service in the red. At one point Helios and Matheson had to take out a $5 million emergency loan to pay its payment...
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  • The owner of MoviePass soars as much as 50% to $0.025 after saying it plans to spin-off the company

    The owner of MoviePass soars as much as 50% to $0.025 after saying it plans to spin-off the company

    26 days ago - By Business Insider

    Helios & Matheson Analytics , announced Tuesday its plan to make MoviePass a separate public company listed on the US market.
    The company said it's considering distributing some common shares of MoviePass Entertainment as a dividend to stockholders of the parent company.
    Shares surged as much as 50% to $0.025 apiece on the news.
    Watch Helios and Matheson Analytics trade in real time here.
    Shares of Helios & Matheson Analytics , the owner of MoviePass, exploded by as much as 50% to $0.025 apiece Tuesday after the company announced its plans to spin-off MoviePass and make it a separate...
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  • MoviePass parent company to spin off MoviePass

    26 days ago - By Tech Crunch

    Helios and Matheson Analytics will spin off MoviePass and all movie-related activities into a separate public company. HMNY is an analytics company after all, and MoviePass has been a pretty bad investment for the company's bottom line.
    When HMNY acquired MoviePass last year, the company didn't really care about creating a subscription service for movie theaters. HMNY wanted to attract enough subscribers to generate more data about the movie industry. This data could then be leveraged for targeted advertising.
    But MoviePass has had so many financial issues that it's hard to believe it's...
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  • MoviePass parent plans to spin it off into separate company

    26 days ago - By Chron

    NEW YORK - The parent company of MoviePass says that it plans to spin off the discount movie ticket subscription service into a separate public company.
    Helios and Matheson Analytics Inc. said Tuesday that the new subsidiary will be called MoviePass Entertainment Holdings Inc. and be a film production, marketing and exhibition company.
    Helios and Matheson Chairman and CEO Ted Farnsworth said in a statement that the parent company had become mostly synonymous with MoviePass in the public's eye, which led it to believe it might benefit from a separation.
    Last week it was announced that...
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  • MoviePass' parent wants to spin it off into a separate company, as the government investigates its finances

    MoviePass' parent wants to spin it off into a separate company, as the government investigates its finances

    26 days ago - By Business Insider

    On Tuesday, MoviePass parent company Helios and Matheson Analytics announced a "preliminary plan" to spin off MoviePass into a separate public company.
    The announcement comes just days after the New York Attorney General's office announced that it was investigating Helios and Matheson to determine whether the company misled investors, a claim which the company denied.
    “For many years, HMNY 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...
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