MoviePass shutting down Saturday

NEW YORK CITY (NBC) – If you’re planning to use MoviePass to go to the movies this weekend, you’re out of luck.

The company announced Friday it will cease operations indefinitely.

Subscribers were notified today that efforts to recapitalize MoviePass have not been successful and the company is unable to say if or when service will resume.

Helios and Matheson Analytics, MoviePass’ parent company, said it has formed a strategic review committee to explore a possible sale of all or some of its assets.

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