MoviePass CEO enters undisclosed bid for shuttered cinema subscription service

Financier Ted Farnsworth said he has submitted an undisclosed offer to purchase the assets of Helios and Matheson Analytics Inc. including MoviePass Inc. Farnsworth has stepped down from his roles as chairman and CEO of Helios and Matheson, and from his position on the board. "I believe there is great unrealized value in MoviePass and we want to rebuild and make sure it reaches its full potential," said Farnsworth in a statement. MoviePass shut down on Saturday.

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