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Moviefone Sold for $1.1 Million to Cleveland O’Neal III, 20

Updated March 25, 2020 to incorporate the identification of the customer.

Cleveland O’Neal III, the Emmy-winning producer and distributor of the “Made in Hollywood” TV franchise, has emerged as the customer of film occasions itemizing firm Moviefone. Helios & Matheson Analytics bought its film occasions itemizing firm Moviefone for $1.075 million out of chapter, based on a Thursday court docket submitting.

O’Neal’s Born In Cleveland LLC had the successful bid for Moviefone, adopted by FOMOPOP Inc., which provided $1.050 million for the corporate. O’Neal is greatest recognized for the syndicated TV collection “Made in Hollywood,” which is at the moment in its 15th season on main station teams together with CBS and FOX O&O’s, out there in over 107 million U.S. houses with over 600 hours of programming.

“The integration of Made In Hollywood’s TV assets with Moviefone’s iconic digital, mobile and social assets is a perfect marriage of entertainment brands providing a 360 solution for our advertising, studio, broadcast and streaming partners across multiple platforms,” O’Neal stated in a press release.

Founded in 1989, Moviefone lately attracted greater than 6 million distinctive month-to-month guests to its web site for film showtimes and tickets, trailers, TV schedules, streaming info, solid and crew interviews, picture galleries and extra.

AOL purchased the movie-ticketing and itemizing firm in 1999 for $388 million in inventory. In 2001, Moviefone entered right into a partnership with with a view to crosslink the ticketing. MovieTickets then outright acquired Moviefone’s on-line arm in 2004, earlier than Moviefone, in 2012, inked a partnership with Fandango.

Helios & Matheson purchased Moviefone from Oath (previously AOL and Yahoo!) in 2018 for $eight million. The firm paid $1 million in money for Moviefone and provided Oath roughly $14 million in choices of Helios and Matheson inventory.

“This natural alignment between MoviePass and Moviefone will help us grow our subscriber base significantly and expand our marketing and advertising platform for our studio and brand partners,” MoviePass CEO Mitch Lowe stated in a press release on the time. “Moviefone has been a go-to resource for entertainment enthusiasts for years, and we’re excited to bolster its presence and bring this iconic platform into the entertainment ecosystem of the future.”

Helios & Matheson, the dad or mum firm of the defunct movie show subscription service MoviePass, filed for chapter again in January after blowing via tens of millions of {dollars} to maintain MoviePass up and working.

Throughout a tumultuous 2018, MoviePass managed to stave off chapter and discover itself embroiled in shareholder lawsuits amid claims of fraud. And to place a cap on the oddity of the corporate’s struggles, in March, it was compelled to re-report third-quarter monetary outcomes, on account of initially believing it had extra subscribers than it did. That resulted in a much bigger reported internet loss for the quarter, ballooning to $146.7 million from the beforehand reported $137.2 million.

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