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Moviefone Is Bankrupt and Operated by One Guy, Bring on the Seinfeld Jokes

Moviefone Is Bankrupt and Operated by One Guy, Bring on the Seinfeld Jokes
Another relic of the movie business of old is on its way out the door. Moviefone, the once-popular service that helped people figure out showtimes in their area, is now bankrupt and worth a tiny fraction of what it was at the height of its powers. The service's parent company, Helios and Matheson, the same company behind MoviePass, has declared bankruptcy and has left the future of Moviefone in doubt.

According to a new report, Moviefone's total value is now estimated to be $4,379,504. That represents a mere 1.1% of the massive $388 million stock deal AOL made for Moviefone in 1999, which happened just before the infamous dot-com bubble burst. Helios and Matheson had purchased the company in April 2018 from Verizon for $1 million and stock, which is now worth next to nothing. Most interestingly, it was revealed that nearly all of the company's staff was laid off, save for one single employee, who
See full article at MovieWeb »

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