MoviePass to be spun off from parent company [CNBC]
HELIOS&MATHESON ANALYTICS (HMNY)
US:NASDAQ Investor Relations:
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Company Research
Source: CNBC
Source: MoviePass Ailing movie subscription service MoviePass will be spun off from its parent company, Helios and Matheson , the company announced Tuesday. The new entity, MoviePass Entertainment Holdings, will take over full ownership of the service and other film related assets currently held by Helios and Matheson. The new entity will be publicly traded, the company said. Since we acquired control of MoviePass in December 2017, HMNY largely has become synonymous with MoviePass in the public's eye, leading us to believe that our shareholders and the market perception of HMNY might benefit from separating our movie-related assets from the rest of our company, CEO of Helios and Matheson Ted Farnsworth said in a statement. The company is also planning to distribute some outstanding shares of MoviePass Entertainment common stock as a dividend to Helios and Matheson shareholders. Shares of Helios and Matheson surged as high as 80 percent in pr
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