Feeds

Quickflix top brass exec exits

Sudden moves ahead of funding news

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

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. ®

Internet Security Threat Report 2014

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
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
Microsoft EU warns: If you have ties to the US, Feds can get your data
European corps can't afford to get complacent while American Big Biz battles Uncle Sam
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
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.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.