'It is a full blown war going on': The CEO of MoviePass' parent company wants to use its subscribers as an army against traditional theaters (HMNY)
Business Insider
- HMNY, which owns 92% of MoviePass, doubled down on the company's bet against traditional theaters on Monday.
- "Make no bones about it, it is a full blown war going on," CEO Ted Farnsworth told shareholders at a special meeting.
- Investors approved two proposals at the meeting that could help the company avoid being booted from the Nasdaq stock exchange.
- Follow HMNY's stock price in real-time here.
MoviePass’ war against traditional movie theaters is still in its infancy, the chief executive of its parent company, Helios & Matheson, told a specially-convened group of roughly 30 shareholders on Monday.
From the 67th floor of New York's iconic Empire State Building, CEO Ted Farnsworth declared to a packed conference room of investors that MoviePass, the subscription service of which his company owns a 92% stake, plans to use its enthusiastic subscriber base as an infantry in its fight against major Hollywood theatre chains.See the rest of the story at Business Insider
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