Quickflix CEO Chris Taylor steps down
Film and TV streaming service Quickflix last night announced the departures of three of its board members including CEO Chris Taylor and deputy chairman Justin Milne.
Quickflix is among the biggest players in Australia’s rapidly growing video-on-demand sector.
Taylor was previously director of Telstra Media while Milne was group manging director of Telstra’s media operations.
Non-executive director Susan Hunter has also stepped down from the board.
Trading in the company’s shares have been suspended since last week. HBO, which bought a 15.7% stake in the company in February, had its representative Henry McGee resign from the board last week.
Yesterday’s announcement said: “Negotiations continue with regard to the future funding of the company. The directors and management are currently pursuing several options.”
At the time of suspension, the market value of the company was $25m.
Last night’s statement to the...
Film and TV streaming service Quickflix last night announced the departures of three of its board members including CEO Chris Taylor and deputy chairman Justin Milne.
Quickflix is among the biggest players in Australia’s rapidly growing video-on-demand sector.
Taylor was previously director of Telstra Media while Milne was group manging director of Telstra’s media operations.
Non-executive director Susan Hunter has also stepped down from the board.
Trading in the company’s shares have been suspended since last week. HBO, which bought a 15.7% stake in the company in February, had its representative Henry McGee resign from the board last week.
Yesterday’s announcement said: “Negotiations continue with regard to the future funding of the company. The directors and management are currently pursuing several options.”
At the time of suspension, the market value of the company was $25m.
Last night’s statement to the...
- 11/20/2012
- by Colin Delaney
- Encore Magazine
The future of DVD and online streaming company Quickflix remains in question after the resignation of its chief executive and deputy chairman amid an ongoing search for new funding.
Quickflix chief executive Chris Taylor will now leave the company in March 2013 with founder and executive chairman, Stephen Langsford, set to replace him. Taylor, a former Telstra Media executive, joined Quickflix in July 2011.
The company, which has been in a trading halt since November 13, also announced that non-executive director and deputy chairman Justin Milne and non-executive director Susan Hunter have resigned although Hunter will continue as company secretary. It follows the resignation of HBO-elected board representative Henry McGee on November 16.
Time Warner's HBO took a $10 million stake in Quickflix in February but the film and TV rental house has continued to burn through its cash reserves as it aggressively stitched up new content deals and pursued subscriber growth.
"Quickflix advises that...
Quickflix chief executive Chris Taylor will now leave the company in March 2013 with founder and executive chairman, Stephen Langsford, set to replace him. Taylor, a former Telstra Media executive, joined Quickflix in July 2011.
The company, which has been in a trading halt since November 13, also announced that non-executive director and deputy chairman Justin Milne and non-executive director Susan Hunter have resigned although Hunter will continue as company secretary. It follows the resignation of HBO-elected board representative Henry McGee on November 16.
Time Warner's HBO took a $10 million stake in Quickflix in February but the film and TV rental house has continued to burn through its cash reserves as it aggressively stitched up new content deals and pursued subscriber growth.
"Quickflix advises that...
- 11/20/2012
- by Brendan Swift
- IF.com.au
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