Quickflix Limited (Quickflix) is pleased to announce completion of the Home Box Office, Inc. (HBO) $10 million investment for a strategic stake in the Company.
Following shareholder approval for the transaction obtained at a General Meeting of Shareholders held on 26 March 2012, the Company has today issued 83,333,333 redeemable convertible preference shares at an issue price of 12 cents per share to raise $10 million.
Quickflix also announces that Mr. Simon Sutton has joined its board of Directors as Non-Executive Director and HBO representative.
Mr. Sutton is president, HBO International and Content Distribution, for HBO. He is responsible for HBO’s international channels and for overseeing worldwide distribution of HBO programming through its HBO Home Entertainment, International Television Distribution and Domestic Distribution businesses.
Prior to joining HBO, Mr. Sutton was executive vice president, International Television at MGM Worldwide Television Distribution, where he oversaw all sales and television distribution activities for MGM and NBC Studios’ programming outside the U.S. Before MGM, Mr. Sutton worked at both United International Holdings and McKinsey & Co.
Mr. Sutton holds an MBA from Stanford Graduate School of Business and an MA in Philosophy, Politics and Economics from Oxford University. He is the secretary and a director of the International Academy of Television Arts and Sciences.
“We are delighted to announce completion of the HBO investment and welcome HBO as a strategic investor in our Company and Simon to the Quickflix board,” said Mr. Stephen Langsford, Founder and Executive Chairman of Quickflix.
Quickflix is Australia’s leading online movie rental company offering subscription to the largest range of movies and TV shows delivered as DVD or Blu-ray by mail starting from $5.99 per month or streamed instantly on demand from a library of hundreds of movies & TV series direct to PCs, Apple Macs and a growing range of connected TVs and devices. www.quickflix.com.au
Stephen Langsford | Executive Chairman | +61 8 93474944 | [email protected]
Chris Taylor | Chief Executive Officer | +61 2 84159570 | [email protected]