Feeds

TV giant HBO invests $AU10m in Quickflix

'Hug it out b***h' downunder

Secure remote control for conventional and virtual desktops

Ambitious Australian IPTV company Quickflix has secured an international investment coup with a $AU10 million cash infusion from Home Box Office (HBO).

The investment will give the Time Warner subsidiary a strategic stake in the ASX listed Quickflix.

HBO will also appoint a representative to the Quickflix board.

Quickflix founder and executive chairman Stephen Langsford said “we welcome HBO as a strategic investor in our Company. Quickflix is achieving strong subscriber growth and we’re rapidly rolling out our streaming service. The funds from HBO’s investment will enable Quickflix to execute its strategy for growth and profitability.”

The investment deal follows Quickflix’s recent licensing agreement with HBO for the streaming of TV series and films in Australia.

Under the terms of the investment agreement HBO will invest $10 million in Quickflix in exchange for 83.3 million preference shares at a price of 12 cents per share which are convertible to ordinary shares equating to a fully diluted interest of 15.7 per cent on conversion.

The deal is subject to ASX and shareholder approval and the board of Quickflix recommended to shareholders to vote in favour of the investment by HBO and intend to vote any shares held by them in favour of the investment by HBO. ®

Beginner's guide to SSL certificates

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
Hungary's internet tax cannot be allowed to set a precedent, says EC
More protests planned against giga-tariff for Tuesday evening
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.