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.
