NEC & Fairfax merged with Quickflix for only 1 mil and by subscribing to the latest share offering (of which, I am sure they are some of the major buyers). They are now able to use their platform, content and with the 100 mil they have so far put up to improve on both.
I believe they will use the already listed Quickflix as shell company to rebrand as StreamCo and launch their joint venture on the ASX.
Quickflix was treading water, needed help from the big boys and got it. Win win for all parties involved, except for HBO, unless they can somehow claim the other 11 mil they invested back...
A great play by NEC.
I am not a holder but I can see this company, now under the the wing of NEC & Fairfax with a 100 mil and probable rebrand as StreamCo, in the media spotlights going up substantially in the 3-6 months and being a very strong player reborn on the emerging Australian VOD marketplace.
Only thing I can see holding this company and the other players back now is the capped download plans that are all that are on offer the the Australian telco monopolies - where as the States and most other countries with developed networks offer unlimited plans...
NEC Price at posting:
$2.06 Sentiment: None Disclosure: Not Held
QFX Price at posting:
1.3¢ Sentiment: Buy Disclosure: Not Held
