Feeds

Quickflix top brass exec exits

Sudden moves ahead of funding news

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

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. ®

Providing a secure and efficient Helpdesk

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
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
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
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
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.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.