MoviePass parent company Helios and Matheson has announced a preliminary plan to spin off the struggling subscription move service into its own company.

“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,” Helios and Matheson CEO Ted Farnsworth said in a press release.

Continue reading…