Deadline Hollywood reports:
A New York bankruptcy judge Thursday approved the sale of the iconic Moviefone movie listings service for $1 million as part of the bankruptcy of its parent company Helios & Matheson Analytics. That oddly-named holding company shot to fame by starting, growing and ultimately badly bungling the MoviePass subscription service, which is next on the auction block.
Alan Nisselson, a partner in the law firm Windels Marx reported to New York Bankruptcy Judge Stuart Bernstein that a company called Born In Cleveland LLC had put in the best of six bids for Moviefone on March 16. Helios & Matheson filed for Chapter 7 Bankruptcy early this year. Chapter 7 provides for the liquidation of a company’s assets to satisfy creditors – versus Chapter 11, which attempt to maintain a business as a going concern.