The corpse of MoviePass — the cinema subscription service that flamed out last year after running out of cash — could be yours for as low as $250,000.
The court overseeing the sale of MoviePass’s assets has set June 18 as the deadline for interested bidders. The proceeding comes after MoviePass parent Helios and Matheson Analytics filed for Chapter 7 liquidation in January, after sustaining massive financial losses. In its bankruptcy filing, Helios and Matheson listed the estimated value of assets at between $1 million-$10 million.
However, none of the personally identifiable information on former MoviePass customers (such as emails addresses) will be part of the bankruptcy sale, which may arguably be the most valuable piece of the now-defunct service.
The investment firm advising the Helios and Matheson’s bankruptcy trustee has set bids for MoviePass at a minimum of $250,000. In March, as part of the Chapter 7 proceeding, the assets of Moviefone were won for...
The court overseeing the sale of MoviePass’s assets has set June 18 as the deadline for interested bidders. The proceeding comes after MoviePass parent Helios and Matheson Analytics filed for Chapter 7 liquidation in January, after sustaining massive financial losses. In its bankruptcy filing, Helios and Matheson listed the estimated value of assets at between $1 million-$10 million.
However, none of the personally identifiable information on former MoviePass customers (such as emails addresses) will be part of the bankruptcy sale, which may arguably be the most valuable piece of the now-defunct service.
The investment firm advising the Helios and Matheson’s bankruptcy trustee has set bids for MoviePass at a minimum of $250,000. In March, as part of the Chapter 7 proceeding, the assets of Moviefone were won for...
- 5/15/2020
- by Todd Spangler
- Variety Film + TV
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