MoviePass co-founder Stacy Spikes has acquired the defunct service’s assets in a bankruptcy proceeding and is looking at a relaunch.
MoviePass, which burned through hundreds of millions of dollars before shutting down amid lawsuits and an FTC complaint, may be getting a second act. Stacy Spikes, one of the co-founders of the theater-subscription company that shut down in 2019, has acquired the assets of MoviePass in a bankruptcy proceeding. And he says he’s looking to relaunch the MoviePass service with new financial backers. “I can confirm that we acquired MoviePass out of bankruptcy on Wednesday,” Spikes said in a statement to Insider, which first reported the news. “We are thrilled to have it back and are exploring the possibility of relaunching soon. Our pursuit to reclaim the brand was encouraged by the continued interest from the moviegoing community.
