Presto TV is looking to hire up to 10 staff after the formalising of the joint venture between Foxtel and Seven West Media.
Foxtel is slashing the monthly subscription fee for its struggling movies streaming service Presto as a defensive move against the looming launches of Nine Entertainment Co's StreamCo and Netflix.
Quickflix has reached in principle agreements with Hollywood studios to convert SVOD licensing commitments of more than $5 million into debt, repayable over three years.
Not only is Netflix creaming Stan and Presto, the US streaming giant's Australian service is causing a decline in the legitimate downloads of movies and TV shows.
Telstra has unveiled the new Telstra TV streaming device which will be available for purchase by Telstra customers from Tuesday October 27.
Streaming service Stan has scored a coup in the battle with Presto Movies/Presto TV and the incoming Netflix by signing a major content deal with Roadshow Entertainment.
Quickflix shares resumed trading on Thursday morning after a two-day halt as the company announced it has raised $775,000 from new investors.
Presto Entertainment has hired several new staffers and confirmed Shaun James as CEO of the joint venture between Foxtel and Seven West Media.