MoviePass to close down on September 14
Published on Sep 14, 2019
Owner Helios And Matheson explores financial options.
MoviePass, the pioneering Us theatrical subscription plan that in recent years had been blighted by heavy operating losses and blackouts, will close down tomorrow (14).
The company sent a letter to subscribers informing them of the move after efforts to raise money proved fruitless. MoviePass suspended its service on July 4 while it said it tried to improve its mobile app.
Owner Helios And Matheson, whose stock has taken a beating over MoviePass, said on Friday it had formed a strategic review committee to explore financial alternatives that could encompass a sale of the whole company,
Read full article at: ScreenDaily
Author: Jeremy Kay