MoviePass will shut down for good on Sept. 14

Mitch Lowe and Ted FarnsworthDave Kotinsky/Getty ImagesMoviePass announced on Friday it’s shutting down the discount ticketing service on Sept. 14. The company notified subscribers that it plans to close down the service because its « efforts to recapitalize MoviePass have not been successful to date. » It has formed a strategic review committee, made up of the company’s independent directors, that’s reviewing « strategic and financial alternatives » for the company.Among the options its considering are a sale of the company in its entirety, a sale of the company’s assets, including MoviePass, Moviefone and MoviePass Films, as well as the possibility of a business reorganization. This is breaking news. Please check back for updates.

Source: CNBC

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