9th Mar 2016 08:56
LONDON (Alliance News) - Pay-TV group Sky PLC on Wednesday said it has signed a strategic partnership with South East Asia-based TV streaming service iflix.
Under the deal, Sky will invest USD45.0 million in iflix, which is available in Malaysia, Thailand and the Philippines at present, and the pair will work on identifying areas on which to collaborate in the future in the markets iflix operates in.
"iflix has quickly established itself as Southeast Asia's most exciting and fastest-growing streaming TV service. There are lots of opportunities for Sky and iflix to work together and share expertise as both companies continue to expand," said Andrew Griffith, Sky's chief financial officer.
Sky shares were down 0.3% to 1,004.00 pence early Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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