Helios and Matheson Plan to Spin Off Moviepass

Media

Published: October 23, 2018 3:08 pm

Last Updated: January 11, 2020 3:58 pm

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Helios and Matheson Analytics Inc. (NASDAQ: HMNY) shares shot up late on Tuesday after the company announced that its Board of Directors preliminarily has approved a plan to create a vertically integrated film production, marketing and exhibition company.

To do this, Helios and Matheson would create a new subsidiary named MoviePass Entertainment Holdings that would take ownership of the shares of MoviePass Inc. and other film related assets held by Helios and Matheson.

The company is endeavoring to create MoviePass Entertainment Holdings as a separate publicly traded holding company that would contain the following four assets:

the shares of common stock of MoviePass Inc. (“MoviePass”), the nation’s leading movie theater subscription service, held by HMNY, which currently comprise approximately 92% of the outstanding shares (excluding options and warrants) of MoviePass,

the membership interests of MoviePass Films LLC (“MoviePass Films”), HMNY’s movie production company partnered with Emmett Furla Oasis Films, held by HMNY, equal to 51% of the outstanding membership interests of MoviePass Films,

the membership interests of MoviePass Ventures LLC (“MoviePass Ventures”), an acquirer and owner of economic interests in completed films, held by HMNY, equal to 100% of the outstanding membership interests of MoviePass Ventures, and

Moviefone, a multimedia media information and advertising service.

Ted Farnsworth, Chairman and CEO of HMNY, commented:

For many years, HMNY has been focused on data analytics, and in that capacity we own assets like Zone Technologies which provides a safety and navigation app for iOS and Android users and a global security concierge service. 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.

Credit Card Companies Are Doing Something Nuts

Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.

It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.

We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.