The CEO of MoviePass' parent company has stepped down and is trying to buy the movie-ticket subscription service, which shut down Saturday

Ted Farnsworth has stepped down as the CEO of Helios and Matheson Analytics, MoviePass' parent company. On Tuesday, the company announced that Farnsworth had submitted an offer to purchase MoviePass and other assets owned by Helios and Matheson, including MoviePass Film and Moviefone. Financial terms of the offer were not disclosed. During Farnsworth's time as CEO of Helios and Matheson, he spent hundreds of millions to try to keep MoviePass afloat.

Ted Farnsworth has stepped down as the CEO of Helios and Matheson Analytics, MoviePass' parent company. On Tuesday, the company announced that Farnsworth had submitted an offer to purchase MoviePass and other assets owned by Helios and Matheson, including MoviePass Film and Moviefone. Financial terms of the offer were not disclosed. During Farnsworth's time as CEO of Helios and Matheson, he spent hundreds of millions to try to keep MoviePass afloat.

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MoviePass Gets Takeover Offer From Group Led by Former CEO of Parent CompanyThe bid from Ted Farnsworth and others, whose price tag wasn't unveiled, includes production arm MoviePass Films, film co-acquisition arm MoviePass Ventures, and Moviefone.
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