Why MoviePass’ co-founder bought back the brand

In breaking news, MoviePass co-founder Stacy Spikes purchased ownership of the beleaguered brand for an undisclosed sum. The transaction follows one of the more spectacular tech flameouts in recent memory. The service was plagued by ever-changing price tiers, blowback from the country’s biggest theater chain and major issues with its app. Spikes tells TechCrunch that he was fired from the service he helped launch in 2018, after voicing concern over the price of its $10/month subscription service. It was one of a number of factors under the leadership of Helios…

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JC Penney storefront. Photo_ Wikimedia Commons

Abandoned US mall department stores offered for Amazon warehouses

One of the largest owners of shopping mall real estate in the United Stages, Simon Property Group, has been talking to Amazon about transforming its anchor department stores into Amazon distribution hubs, according to the Wall Street Journal. In the case of Simon Property, the anchor tenants like J.C. Penney and Sears  that used to be stable sources of revenue are now weights around the neck of the retail real estate manager, and transforming their ghostly halls of pale mannequins into warehouses for Amazon orders simply makes sense. The transformation from showroom to storehouse for everything…

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