Feeds

TV giant HBO invests $AU10m in Quickflix

'Hug it out b***h' downunder

Providing a secure and efficient Helpdesk

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. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Forget silly privacy worries - help biometrics firms make MILLIONS
Beancounter reckons dabs-scanning tech is the next big moneypit
Microsoft's Office Delve wants work to be more like being on Facebook
Office Graph, social features for Office 365 going public
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.