…I heard that Reeltime.tv was also a Perth based company (see prev. post). Probably the remoteness of it all. š However checking reeltime.tv website they list only a Melb and Syd address. So without naming names *points a finger at the bloke from PBL* someone must’ve got it wrong the other night!
Lachlan Murdoch buys into DVD rental firm
FORMER News Corporation executive Lachlan Murdoch has chosen a relatively unknown DVD subscription service to launch his corporate interests in Australia, paying about $650,000 for a 9.6 per cent stake in Quickflix.
Mr Murdoch began his lightening raid on the Perth-based company just after 10am today, opening with a 3.1 million stake which gradually increased to 4.036 million by around 1pm before an announcement was made to the Australian Stock Exchange.
It is not clear who was doing the selling, or which broker Mr Murdoch used. The biggest holder, including options is chief executive Stephen Langsford.
Mr Murdoch initially took a parcel of 45,423 shares on August 18.
Mr Murdoch, the eldest son of News Corp chairman and chief executive Rupert Murdoch, quit his executive role at News Corp last year, saying he wanted to move his family back to Australia.
At the time he signed a clause that prevented him from working as a director, executive or consultant for any company competing directly or indirectly with News Corp.
He remains a director of News Corp, but set up a new company, Illyria Pty Ltd, in August last year, . Illyria, which is now modern day Albania, was the setting for Shakespeare’s play Twelfth Night, in which a woman disguises her identity.
Quickflix owns online DVD rental company HomeScreen Entertainment, which was founded by Tony Faure, the recently appointed chief executive of Yahoo! Australia & NZ.
Quickflix listed in May last year after raising $3 million through Perth broking firm Patersons
Kevin Andrusiak at The Oztralyan. I doubt somehow that online DVD rentals will compete with Foxtel’s time-shift strategies. Plus the el cheapo bin at K-Mart has everything I need. Seriously.
I wonder how much www.imdb.com would cost to buy. What a superb community it would make and it already has (seemingly great infrastructure, it just doesn’t leverage it anywher re near enough… Yeah, I’d love to have IMDB as a Chrissie present to play with, *hint hint* oh, ok, chocolates will do.
