Quickflix inks Presto content deal which appears to bypass warrant held by rival Stan

QuickflixTroubled streaming and DVD distribution business Quickflix has struck a deal with rival service Presto to become a reseller of its content.

prestoToday’s deal means Quickflix’s streaming offering will now be Presto content, but it will maintain its own pay-per-view movie and TV offering, and DVD business.

However, Mumbrella understands the deal has been structured to avoid triggering a warrant held by rival streaming service Stan as part of its shareholding in Quickflix.

Stan’s parent company StreamCo, a joint venture between Nine Entertainment Co and Fairfax Media, last year bought 83m preference shares in Quickflix from HBO, which included a warrant which sees Stan entitled to a $10.5m payment in the event of a “liquidation event” or 51 per cent change of ownership. 

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