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.