The theater ticket website was sold to AOL in 1999 for $388M.

License Global

March 23, 2020

1 Min Read
moviefone.png

Theater ticket website MovieFone has been acquired at a bankruptcy auction for a bid of $1.075 million, according to The Hollywood Reporter.

Born In Cleveland was listed as the winning bidder for the site, according to a filing with the U.S. Bankruptcy Court for the Southern District of New York.

Most recently, the company was owned by Helios & Matheson, owner of the bankrupt MoviePass. The company acquired the site in 2018 from AOL’s parent company, aiming to use the six million average monthly audience to grow its subscriber base. MovieFone was sold to AOL in 1999 for $388 million.

The service was part of the $4.4 billion sale of AOL to Verizon in 2015 before it sold in April 2018 to Helios & Matheson.

MovieFone debuted in 1989 as an interactive phone guide for movie listings and showtimes. It launched a website called MovieLink in 1995 and once boasted 100 million users of its service.

MovePass said it hit three million subscribers in 2018, but it changed it pricing plans often, running into a cash crunch. Helios & Matheson filed for bankruptcy in late January 2020.

 

About the Author(s)

License Global

License Global is the leading news source for the brand licensing industry, delivering award-winning editorial content including news, trends, analysis, and special reports about the global consumer product and retail marketplace.

Through its print edition, website, daily e-newsletter and event publications, License Global reaches more than 150,000 executives and professionals in all major markets. The magazine also serves as the official publication for the sector’s trade events, which include Licensing Expo, Brand Licensing Europe, Licensing Expo Japan, Licensing Expo Shanghai and the Licensing Leadership Summit.

Subscribe for updates directly into your inbox.

 

 

 

Subscribe and receive the latest news from the industry Article
Join 62,000+ members. Yes, it's completely free.

You May Also Like