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The controversial, fast-growing subscription company MoviePass is joining with one of the nation’s oldest cinema services, Moviefone.
Helios and Matheson Analytics Inc., majority owner of MoviePass, has agreed to buy Moviefone from its owner, Verizon Communications Inc.’s VZ, +0.91% digital division Oath, the companies said Thursday.
Financial terms weren’t disclosed but the deal is a mixture of cash and equity, said Helios Chief Executive Ted Farnsworth.
The deal marks Helios’ first acquisition meant to complement MoviePass since buying control of it last August. Since then, MoviePass launched a new plan letting subscribers see up to one film a day for $9.95 a month, which proved popular among consumers but divisive in the entertainment industry.
An expanded version of this story appears at WSJ.com.
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