re: great postitioning for the future
Quickflix and WIN Corp alliance in online DVD rental 08:48, Friday, 22 December 2006
Sydney - Friday - December 22: (RWE Aust Business News) - Quickflix (ASX:QFX) and WIN Corp have an alliance whereby WIN will promote the Quickflix online DVD rental service to more than 25 per cent of the Australian population and invest one million dollars in the company via a convertible note. The convertible note will have a two and a half year term and is convertible at 35c per share at WIN's option upon achieving a minimum 20,000 regional subscribers. Quickflix will have an option to convert at 25c. Quickflix chief executive Stephen Langsford said the deal would massively expand the awareness of Quickflix via Australia's largest regional television network. "The agreement with WIN Corporation comes as we expand our DVD library and introduce new online community features," he said. "Approximately 24 per cent of all movie rental transactions are expected to be online by 2010." QuickFlix share were last traded at 18.5c. ENDS
DES owns 10% of Quickflix
DES Price at posting:
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