THE Lachlan Murdoch-owned Illyria Pty Ltd has bought almost 10 percent of Perth-based online DVD rental company Quickflix Ltd. Illyria, set up in August last year, has become a substantial investor following the purchase of 4.04 million shares, or 9.6 per cent capital in Quickflix, valued at around $620,000. Quickflix, at the time WA Business News went to press, was trading at 17 cents with its shares surging up 5.5 cents on the day of the announcement. Quickflix owns online DVD rental company Home Screen Entertainment and was founded by Tony Faure, the recently appointed chief executive of Yahoo! Australia & NZ. In July, Quickflix reached agreement for the placement of 10 million shares at an issue price of 12 cents to raise $1.2 million. The company floated on the ASX in June 2005 after raising $3 million from investors.
© Business News 2018. You may share content using the tools provided but do not copy and redistribute.