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Hello! And welcome to Movie...Pass?MoviePass, the ticket subscription company, is buying Moviefone, the 29-year old movie directory service.A lot has changed since Moviefone first started. It's hard to imagine now, but people used to call a number for movie times. Moviefone became so popular that its famous "Welcome to Moviefone" greeting was parodied in a famous "Seinfeld" episode.Moviefone still has a website and app, but it retired the 777-FILM phone service in 2014. (Seinfeld's Kramer must be pleased. "Why don't you just tell me the name of the movie you've selected?")AOL, now part of Verizon, bought Moviefone in 1999 for 8 million. But MoviePass isn't spending nearly as much to get Moviefone. MoviePass majority owner Helios and Matheson Analytics will pay Verizon only about million for Moviefone -- million in cash and a mix of HMNY stock and warrants worth about million, according to a Securities and Exchange filing Thursday.So why does MoviePass want Moviefone? MoviePass CEO Mitch Lowe told CNNMoney it wanted access to Moviefone's film and TV show content."Our subscribers want to connect with Hollywood and hear more about what's going on in the film industry," Lowe said. "They'd like to have MoviePass recommend movies to them and Moviefone is iconic."Lowe, a co-founder of Netflix and former president of DVD rental kiosk service Redbox, added that he hopes the acquisition will be a "great funnel to attract new members" to MoviePass, which currently has more than 2 million subscribers.Ted Farnsworth, CEO of Helios and Matheson Analytics, added that the marriage of MoviePass and Moviefone will hopefully lead to more advertising revenue."MoviePass is growing at warp speed. Put it and Moviefone together and it gives us more advertising opportunities," Farnsworth said in an interview with CNNMoney. "This is a great strategic move for us."MoviePass arguably needs more ad sales to convince skeptical investors that its business model of buying tickets from theaters and then offering them to subscribers at a discount through monthly and annual subscription plans is viable for the long haul. MoviePass lets people see a movie a day for .95 a month -- it recently cut its price from .95.Shares of Helio and Matheson Analytics have plunged nearly 55% this year. Investors are worried that MoviePass won't be profitable anytime soon.Part of the problem? We live in an era of so-called peak TV. Netflix, other streaming services and big cable TV networks are churning out more and more quality shows that eat into the time people have to go to movies.Investors also worry that the big chains that MoviePass currently buys tickets from -- AMC, Regal and Cinemark -- may eventually look to cut out MoviePass and launch their own subscription services or other lower-priced deals.Regal, which is now owned by UK-based Cineworld, has experimented with charging more for tickets during peak movie times and less at times when attendance tends to be lighter. Think of it as Uber-style surge pricing, but for movies.And Cinemark unveiled Movie Club, a monthly plan that lets people buy a movie ticket a month for a discounted price of .99, last year.That deal obviously isn't as good as the one a day plan offered by MoviePass. But Cinemark will also allow Movie Club members to roll over unused tickets every month, bring friends at the lower price and offers bargains on concession stand items.Lowe isn't too concerned about competition though. He said he's convinced that MoviePass will continue to work closely with the big chains -- even if Wall Street is nervous."We have to prove we are a driving force in getting more people into theaters. We have to try and put our money where our mouth is," he said. 3759
Hawaii may have a hurricane on its horizon next week -- though it's far too early to tell how close it will get.Hurricane Lane, a devastatingly strong Category 4 storm now, is heading west-northwest over the Pacific, and is forecast to weaken and pass south of the Aloha State around Wednesday.But the track is uncertain this early, and there's a chance Lane by Tuesday night could bring winds of at least tropical-storm strength (39 mph and higher) to Hawaii's Big Island, the Central Pacific Hurricane Center says.Early Saturday, the storm was more than 1,200 miles east-southeast of Hilo, Hawaii, with maximum sustained winds of 130 mph -- the lowest threshold for a Category 4.The storm could strengthen Saturday and Sunday, but it is expected to weaken to a Category 1 (sustained winds of 74-95 mph) by Tuesday or Wednesday, the National Hurricane Center says.Six computer forecast models predict Lane's center will pass south of Hawaii next week, but the outer bands still could bring strong winds to the islands if the center gets close enough.Lane's approach comes more than a week after Hawaii watched Hurricane Hector pass well to the south. 1159
General Motors recently announced that it would be shutting down five car factories in the United States and Canada and cutting 14,000 jobs. GM said at the time that factory workers would be offered jobs at other facilities where production is being increased and on Friday it offered an update on how things are going.Of the jobs GM plans to cut, 2,800 are hourly employees in the United States. These are generally assembly line workers who punch in and out for work each day as opposed to employees who are paid a salary.The automaker announced Friday that 1,100 of those hourly workers have volunteered to transfer to jobs at other factories, such as GM's Flint, Michigan, truck plant where heavy duty pickups are built and the Toledo transmission plant in Toledo, Ohio. Another 1,200 workers in that group are eligible for retirement, the company said.The US plants GM is shutting down are in Michigan, Ohio, and Maryland. These plants mostly made sedans, which have fallen out of favor as customers have shifted toward crossover SUVs and trucks.GM also said last month that Canadian workers would be offered jobs at other plants in that country.In total, the company announced it would cut 6,000 hourly and 8,000 salaried positions. In October, the company offered voluntary buyouts to 18,000 workers.GM CEO Mary Barra has said she wants to save money and reposition the company for future investments in autonomous driving technology and electric cars. She wants to do this now, she has said, rather than waiting and cutting jobs during an economic crisis."Today, we have a plan for the majority of employees currently working at our impacted plants in Maryland, Michigan, Ohio and Oshawa, Canada that includes job opportunities at other GM facilities," Barra tweeted Friday. "We're committed to doing the right thing, for the future of GM and our people." 1901
HAMILTON, Ohio — A student at a regional campus of Miami University was caught on video vandalizing an anti-abortion display of crosses in a field.Local media reports the university has identified two students involved, and it will take disciplinary action. The incident has been referred to the university’s Office of Ethics and Conflict Resolution, a university representative said. 392
GRASS VALLEY, Calif. (KGTV and AP) — The body of a woman found in a shallow Northern California grave may be an aspiring model and actress from Macedonia who vanished in Los Angeles last month, authorities said.The Nevada County Sheriff's Office said the body found Tuesday has not been identified. Los Angeles Police said they believe the remains are those of 25-year-old Adea Shabani, KABC reported. An autopsy is scheduled for Wednesday.Sheriff's Lt. Rob Bringolf said Los Angeles police detectives searching for Shabani led investigators to the grave 56 miles (90 kilometers) north of Sacramento. Shabani was last seen in Hollywood on Feb. 23.An acquaintance of Shabani's fatally shot himself in the head last week. The California Highway Patrol said 33-year-old Chris Spotz led officers on a Southern California vehicle pursuit that ended with his death in Riverside County. The CHP said Spotz was driving a stolen pickup. 950