Moviefone Assets sold to Born In Cleveland, LLC

  • Background:  Moviefone, a subsidiary of Helios and Matheson Analytics, Inc., is an entertainment information and marketing service that delivers movie showtimes, trailers, TV schedules, streaming information, cast and crew interviews, and editorial coverage.
  • Cassel Salpeter:
    • Served as financial advisor to the Company
    • Conducted a robust sales process, identifying and contacting a broad set of strategic and financial parties
    • Provided assistance throughout all phases of the Chapter 7 Section 363 sales process, due diligence, and auctions
  • Challenges:
    • Moviefone was losing value over time due to limited attention and resources; the assets needed to be sold in a short time frame in order to preserve value
    • Limited information and resources available at the Company
    • Maximizing the value of the estate during a global pandemic
  • Outcome:  On March 19, 2020, the court approved the sale of the Moviefone assets to Born In Cleveland, LLC.  Additional assets were also sold as part of the bankruptcy sales process.

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