Quickflix suspends shares; may benefit competitors says Media Man


Quickflix suspends shares; May benefit competitors says Media Man, by Greg Tingle
- 3rd August 2015

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Online streaming service Quickflix has suspended its shares from trading ahead of an expected announcement about a new deal.

The company last Thursday requested a trading halt, saying it planned to release an update regarding a potential corporate transaction with an international party.

On Monday, Quickflix requested a voluntary suspension of its shares, saying it hoped it would be lifted on or before Wednesday.

Quickflix recently raised $775,000 through the issue of new shares, and is facing increasing competition from the likes of Netflix.

Their loss may be the competitors gain, be it a Netflix, Stan, WWE Network, UFC Fight Pass or even a Fetch TV or "SlimFetch", by long time Media Man friend and associate, Kashif Amjad.

You can bet that the Amjad's of this world.. movers n shakers of the Australian streaming television sector, will be watching this space pretty closely this week. Nine's Gyngell may be tempted to comment on the current state of the industry, birdies advised MM. Maybe the shake up may encourage gaming billionaire to develop a gaming and / or casino television channel!

Media Man expects these developments can be only good news for you - the consumer.

*the writer previously worked in the Australian subscriber business (Optus Vision and Optus Communications) for over 5 years, specializing in the bundling, contract, PPV and ethnic channel sector.

 

Greg Tingle and former Foxtel boss Kim Williams