MoviePass announced on Friday it’s shutting down the discount ticketing service on Sept. 14. MoviePass parent company Helios and Matheson Analytics notified subscribers that it plans to close down the service because its “efforts to recapitalize MoviePass have not been successful to date.” It has formed a strategic review committee, made up of the company’s independent directors, to explore “strategic and financial alternatives” for the company. Among the options its 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. Helios and Matheson Analytics noted that any transaction would include the “assumption or settlement” of any of its liabilities. This story first appeared on CNBC.com More from CNBC: This was the worst week for mortgage rates in 3 years Cloudflare stock pops 20% in first day of trading Tech platforms have a problem: people Copyright CNBC
- Several Employees Sue Dick’s Sporting Goods Over Overtime Pay
- MAMAMOO's Whee In Makes Solo Debut on World Digital Song Sales Chart With 'Good Bye'
- REVEALED: Elon Musk's Twitter meltdown caused Tesla's value to tank by $14 BILLION and cost him $3 billion in personal wealth - as he hints his lawyers did NOT vet claims on stock prices as part of his SEC deal
- 'This isn't essential': Employees at Tyson dog treat factory plead with company to shut down plant after first Covid-19 death
- Up to 14 Million Jobless Americans Shut Out of Unemployment Benefits, Survey Finds
- Coronavirus: Sydney school shuts after student tests positive for COVID-19
- HOOQ video streaming service shuts down globally
- Is China fighting a second wave of coronavirus? Beijing shuts gyms and a city of 10million people is put in lockdown
- ‘Job Of My Dreams’: Retiring Teacher Gets Emotional Goodbye As Preschool Shuts Down
- UK Gov't Considers Introducing 14-Day Quarantine for Flight Arrivals, Transport Secretary Says
MoviePass Will Shut Down for Good on Sept. 14 have 331 words, post on www.nbcmiami.com at September 13, 2019. This is cached page on USA Breaking News. If you want remove this page, please contact us.