Quickflix issues yet more share options in deal to avoid $5m studio royalty payments

Tim Burrowes

December 24, 2015 5:30

Struggling Australian streaming and DVD rental company Quickflix (ASX:QFX) has issued yet more share options in the company to hold off debtors.

In an announcement timed for after the Australian Securities Exchange had closed for Christmas, Quickflix revealed that it has issued another 51.2m share options in the company and plans to go through yet another round of fund raising.

The options will go to major studios Quickflix had licenced video content from, for which it is unable to pay. It said the obligations covered by the deal amount to $5m, and that it has now been released from a total of $7m in obligations.

The company has been suspended from its listing on the ASX since August, at which point its market capitalisation has already fallen to $2.2m.

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Tim Burrowes

Tim Burrowes is the publisher of Mumbrella and Unmade. He co-founded Mumbrella in 2008 and sister title Unmade in 2021. He's worked in the UK, Middle East, Asia & Australia and has specialised in writing about the communications world for the last 25 years. He wrote the book Media Unmade, published in 2021, and became the presenter of MediaLand on ABC Radio National in 2025.