Quickflix Goes Back On Chinese Streaming Company Acquisition Deal

Quickflix Goes Back On Chinese Streaming Company Acquisition Deal
SHARE
THIS



Streaming company Quickflix has announced to the ASX this morning it will not go ahead with the planned acquisition of an unnamed Chinese streaming company.

The ASX statement said the decision was based on advice Quickflix had received.

“Based on due diligence of the Shanghai-based company and advice in relation to Chinese regulations and restrictions, Quickflix has decided that it will not be proceeding with the acquisition,” the statement read.

However, the streaming company says it still wants to pursue a Chinese-based deal as it “recognises distribution of content into China and of Chinese content to the rest of the world is a significant opportunity and it is continuing to develop a China strategy”.

The proposed acquisition came to light a fortnight ago, after Quickflix terminated the deal it had made with Foxtel’s streaming venture Presto.

The deal had meant Quickflix would become a reseller of Presto content.

However, that fell through a day after the announcement Quickflix had halted its trading pending an acquisition with an international company.,

It’s been a tough crowd in the streaming video on demand (SVOD) market since Netflix entered the foray.

Recent statistics from Roy Morgan Research show Netflix is continuing to be the swelling giant in the SVOD arena, with the business now reaching 1.89 million people aged 14 years and older.

 

Please login with linkedin to comment

Bloke James Zipeure Uber

Latest News

IsoWhey launches #YouGotThis Weight Management Campaign Via Indie Agency Urban
  • Advertising
  • Campaigns

IsoWhey launches #YouGotThis Weight Management Campaign Via Indie Agency Urban

Australia’s leading health and wellbeing brand IsoWhey has launched its latest national campaign, ‘#YouGotThis’. Created by Urban, the campaign highlights the real-life struggles Australians face on their weight management journey. A journey made easier through perseverance, and a little help from IsoWhey. The #YouGotThis campaign is IsoWhey’s biggest marketing investment to date, with executions running […]

Taking A stand? Just Do It…Maybe
  • Marketing
  • Opinion

Taking A stand? Just Do It…Maybe

In this guest post, creative and strategy director at WE Buchan, David Coupland (pictured below), takes a look at the fallout from Nike’s Colin Kaepernick campaign and says what it also does is show the importance brands now play in our lives… Nike’s decision to feature Colin Kaepernick as the face of their 30th anniversary “Just Do It” campaign […]

Opinion

by B&T Magazine

B&T Magazine
How To Optimise Branded Keywords
  • Marketing
  • Opinion

How To Optimise Branded Keywords

In this guest post, CEO of Delacon, Michael Center (pictured below) talks the value of branded keywords for marketers and offer his tips on getting the best from yours… Branded keywords are an essential part of the digital marketing strategy for many large businesses. Trading on the recognition and equity of a brand’s name, some of the country’s […]

Opinion

by B&T Magazine

B&T Magazine
OLYMPUS DIGITAL CAMERA
  • Marketing
  • Opinion

Expertise First, Influence Second: When Influence Is A By-Product Of Expertise

In this guest post, Taryn Williams, CEO and founder of influencer and creative talent marketplace theright.fit, explains why influence should be a by-product of success, not the foundation for it… Like any form of advertising and promotion, influencer marketing is not without its controversies. Earlier this year Australia’s Federal Minister for Health, Greg Hunt, ordered […]

Opinion

by B&T Magazine

B&T Magazine
Ford & Facebook Invite Aussies To Personalise 2018 Mustang With New In-App Experience
  • Campaigns
  • Marketing
  • Technology

Ford & Facebook Invite Aussies To Personalise 2018 Mustang With New In-App Experience

Ford Australia has unveiled a new innovation that showcases the iconic Ford Mustang through a collaboration Facebook and Instagram. The interactive campaign invites Facebook and Instagram communities to take part in a live poll to identify Australia’s ultimate Mustang design. Targeting performance car fans, along with design lovers and image-conscious consumers, Ford and its partner […]