Seeking Alpha

MoviePass assets in play

|About: Helios and Matheson Analy... (HMNY)|By:, SA News Editor

You can't kill MoviePass. Just days after the movie subscription service was shut down, Helios and Matheson Analytics (OTCPK:HMNY) CEO Theodore Farnsworth is reported to be looking to lead a group of investor to buy the assets from the trash bin. The Farnsworth bid is said to include a play for MoviePass' production arm MoviePass Films, film co-acquisition arm MoviePass Ventures and Moviefone.

The company still has a long list of subscribers and potentially valuable data on their movie habits that could prompt bids from other parties.

While MoviePass was a bust for investors, it changed the landscape for theater chains like AMC Entertainment (AMC -4.2%), Cinemark (CNK -2.2%) and Marcus (MCS -0.1%) by nearly forcing them to adapt.

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