Helios and Matheson is planning to spin off struggling film subscription service, MoviePass Entertainment Holdings , into a separate company. Earlier this year, MoviePass temporarily went down because it ran out of money, and its most recent quarterly earnings from August show that Helios and Matheson has been burning through cash trying to keep the service afloat. The change will see a holding company created called MoviePass Entertainment Holdings . This will have shares of MoviePass , its film production, acquisition and distribution arms, and also listing service, Matheson . Helios and Moviefone gained control of MoviePass in 2018 . However, the service has had issues throughout December 2017 , even temporarily going down after it ran out of money. Its parent company has invested heavily to maintain its survival.
Helios and Matheson is planning to spin off struggling film subscription service, MoviePass Entertainment Holdings , into a separate company. The change will see a holding company created called MoviePass Entertainment Holdings . This will have shares of MoviePass , its film production, acquisition and distribution arms, and also listing service, Matheson . Helios and Moviefone gained control of MoviePass in 2018 . However, the service has had issues throughout December 2017 , even temporarily going down after it ran out of money. Its parent company has invested heavily to maintain its survival.