Quickflix To Be Taken Over? Shares Go Into Trading Halt

X

Quickflix shares have today gone into a trading halt, with the streaming company advising it has requested the halt ahead of a potential acquisition.Quickflix stated it had requested the halt ahead of a “pending release of an update regarding a potential corporate transaction with an international party which may result in an acquisition”.

Competition has been intense in the local streaming market this year following the arrival of Netflix, with a number of local players jostling for market share.

Quickflix has been active in the market in recent months, in May entering an agreement with Foxtel to distribute Foxtel’s Presto movie and TV subscription video-on-demand service to its customer base.

Quickflix had also announced in May that it had raised approximately $775,000, seeking to solidify its position in the market.

While Quickflix had grown its paying customer base by 6 per cent to 123,553 in the March quarter, it also reported a net decrease in cash held of $858 million.

The halt will be in place no longer than the open of trading on Monday, Quickflix advised.

Leaderboard 728x90 1 Quickflix To Be Taken Over? Shares Go Into Trading Halt
TAX TIME 2024 Banner 728x90px Quickflix To Be Taken Over? Shares Go Into Trading Halt
Martin Logan 728 x 90 Quickflix To Be Taken Over? Shares Go Into Trading Halt
BlueAnt PumpAirANC WebBanner 728x90 Quickflix To Be Taken Over? Shares Go Into Trading Halt
728x90 Quickflix To Be Taken Over? Shares Go Into Trading Halt
QUEEN 728x90 Quickflix To Be Taken Over? Shares Go Into Trading Halt
Middleton 728x90px Product Quickflix To Be Taken Over? Shares Go Into Trading Halt
Haier 728x90 1 Quickflix To Be Taken Over? Shares Go Into Trading Halt
728x90 Iconic Quickflix To Be Taken Over? Shares Go Into Trading Halt
728x90 Quickflix To Be Taken Over? Shares Go Into Trading Halt


YOU MAY ALSO LIKE