March 13, 2019
MoviePass March 13 disclosed that Khalid Itum, hired last December to oversee daily operations at the fiscally-challenged movie theater subscription service, is leaving the company.
“Itum will be leaving MoviePass to pursue his entrepreneurial and travel pursuits,” a spokesperson told Business Insider in a statement.
The departure comes as chief technology officer Joey Adarkway and Jake Peterson, head of human resources, transition from fulltime employees to consultants.
The personnel moves come the day after corporate parent Helios and Matheson Analytics disclosed, in a regulatory filing, that MoviePass lost nearly $10 million more ($146.6 million) in the most-recent fiscal filing than was originally disclosed.
Meanwhile, HMNY appears to be successfully churning out content through its MoviePass Films unit headed by co-founders Randall Emmett and George Furla. The company’s content include dramas with Bruce Willis (10 Minutes Gone) — the first of three titles with the actor, and Al Pacino and Meadow Williams in current production, Axis Sally.
In addition, Border, a Cannes-winning film MoviePass Films co-distributed with Neon Rated, was nominated for an Academy Award for Best Makeup and Hairstyling.
“As previously stated, MoviePass has moved in a new strategic direction, and will be refocusing our business model to create a more closely connected relationship between our subscription service and original content production unit, MoviePass Films,” said the spokesperson.