Subscription-based company MoviePass is acquiring Moviefone from Oath, it has been revealed.
The deal was struck between MoviePass’s majority owner Helios and Matheson Analytics and Verizon subsidiary Oath.
Moviefone, once a highly popular movie information service worth hundreds of millions, was purchased for a mere $1 million cash with a couple million common shares tossed in, according to a document filed with the SEC.
Moviefone was launched in 1989, enabling anyone to call a number to get information about movie showtimes and more.
The service grew to massive popularity, being the source of an entire episode of Seinfeld, for example.
AOL had acquired the service back in 1999 for a relatively huge $388 million, putting its current $1 million acquisition value into perspective.