MoviePass is shutting down

Hollis Johnson/Business Insider

MoviePass will shut down Saturday, September 14, its parent company Helios and Matheson Analytics announced Friday.

Helios and Matheson said efforts to recapitalize the movie-ticket subscription service "have not been successful to date."

MoviePass, along with Moviefone and MoviePass Films, which are all owned by Helios and Matheson, will be up for sale, the company said.

Helios and Matheson's "board of directors has formed a strategic review committee, composed entirely of the company's independent directors, to identify, review and explore all strategic and financial alternatives for the company, including a sale of the company in its entirety," the company said.

This story is developing...