Feeds

Quickflix top brass exec exits

Sudden moves ahead of funding news

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Australian IPTV aspirant Quickflix has suffered a sudden executive exodus ahead of a pending announcement on a new mystery strategic investor.

In a surprise move Quickflix CEO Chris Taylor and deputy chairman Justin Milne have both announced their departures from the company. Another non-executive director, Susan Hunter, is also resigning from the board but will retain the position of company secretary.

Quickflix founder and executive chairman Stephen Langsford will take on the role of CEO when Taylor leaves in March 2013.

Both Taylor and Milne, high profile alumni from Telstra, joined the Australian answer to Netflix in July last year. The hiring coups followed Quickflix's acquisition of Telstra's BigPond Movies DVD rental business.

Armed with a new executive team, Quickflix has devoted the last year to moving its subscriber base to a multi-platform VOD digital delivery model.

Earlier this year, the company secured $AUD10m of investment from HBO for a 15.7% stake.

However market speculation has questioned the ongoing input from the US broadcasting giant following the resignation of HBO representative Heny McGee from the Quickflix board last week.

In a statement to the ASX, Quickflix announced that negotiations continued with regard to the future funding of the company. “The directors and management are currently pursuing several options and working through a restructuring plan to reduce costs and capital requirements.”

The company is currently in voluntary suspension and advised that stock would remain suspended until 29 November. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
4chan outraged by Emma Watson nudie photo leak SCAM
In the immortal words of Shaggy, it wasn't me us ... amirite?
prev story

Whitepapers

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.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
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.