On Friday the 13th, the corporate horror show that has been MoviePass appeared to reach its bloody finale.
Helios & Matheson Analytics Inc. HMNY, -10.00% , the corporate parent of the service that sought to give users unlimited entry to films at the theater as they wanted for a monthly subscription price, announced Friday afternoon that it would shutter the service as of Saturday. The company’s board is reviewing options, including selling the entire business or just MoviePass.
“The Company is unable to predict if or when the MoviePass service will continue,” the two-paragraph statement reads. “The Company is continuing its efforts to seek financing to fund its operations. There can be no assurance that any such financing will be obtained or available on terms acceptable to the Committee.”
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