When struggling Australian streaming and DVD lending company Quickflix announced a trading halt last week, there were rumours it was about to be bought by a much larger company
Instead of being snapped up by one of its more well-funded video on-demand competitors, Stan, Presto, Foxtel Play, or even Netflix, it’s Quickflix itself that is doing the acquiring.
On Wednesday, the Perth-based company announced it had entered into a non-binding memorandum of understanding to combine with an unnamed Chinese film and television company. By acquiring the company, which is based in Shanghai, Quickflix plans to form "a global streaming platform" that will distribute Chinese film and TV content into China and international markets, the company said in a statement. Read more…
The post Looking to Asia, Quickflix to acquire Chinese film and television company appeared first on Elite Limo Blog.