iflix in sales talks
June 11, 2020
Malaysia VoD platform iflix is holding sales talks to avoid a looming debt crisis according to local reports.
The company has already appointed asset specialists to its board of directors following the departure of its two co-founders – Patrick Grove and Luke Elliot. Sources told DealStreetAsia that the platform is aiming to close a deal by the end of June.
The company reported a net loss of $158.1 million in 2018 as its operations ripped through $25.5 million of cash, resulting in a net liability position of $68.6 million.