Helios and Matheson Analytics Inc (HMNY)

[chereb19]

Live Nation In Advanced Talks To Acquire Helios and Matheson Analytics
MoviePass
Los Angeles, Oct 16, 2018 (Issuewire.com) - Helios and Matheson Analytics Inc., the majority owner of moviegoing service MoviePass, is in advanced talks to be acquired by entertainment giant Live Nation according to people familiar with the matter. The all-cash deal, reportedly for $691 million, is expected to close within days.

Live Nation, known for its ultra-successful promotions of A-list artist tours, music festivals, and live events, is now looking to expand its reach to the box office. Fast growing MoviePass will give the event promoter a running start with millions of movie lovers who currently subscribe to its service. Helios and Matheson have not been without its struggles though and nearly ran out of operating capital in late July.

Mitch Lowe, the CEO of MoviePass, recently announced in an interview that the company plans to expand its service to Spain in 2019. This directly coincides with Live Nation's presence in the country, and sources state the UK will be next to receive the movie subscription service.