MoviePass' ongoing implosion has always been very public, so it somehow makes sense that its parent company issued a press release to announce its plans to formally distance itself from the failing movie subscription service. Helios and Matheson Analytics (HMNY), which focuses primarily on data analysis, stated that it plans to spin out MoviePass and some associated holdings into an independent company in order separate the movie services' brand from its own.
Read MoreMoviePass to spin out from parent company in distancing move was written by the awesome team at Android Police.
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