Numlock News: December 19, 2018

By Walt Hickey Liking Numlock? Forward today’s email to a friend you think may enjoy it and might subscribe. Heist Movie Yesterday MoviePass convinced its creditors to cut the debt it owed down from $44.5 million to $11.3 million, with a further chance to reduce the debt to $5.7 million should the company pay back its creditors early. On one hand, this is a savvy corporate move: the company no longer owes money in the form of debt that could be converted into stock, which means it can now raise money by selling the 2.6 billion shares it had to hold on to to satisfy those debts. On the other hand, let’s take a step back and realize what happened here. Creditors may have just taken a write down on $38.8 million worth of movies, meaning that MoviePass just Robin Hooded the equivalent of 4.3 million movie tickets from private equity firms to moviegoers. In possibly related news,

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