Tencent will acquire iflix’s content, technology and other resources; however, it will not take on the company’s debt.
Chinese powerhouse Tencent Holdings will buy some of iflix’s assets as part of its efforts to expand the reach of its own WeTV streaming video service in Southeast Asia.
While Tencent will snap up iflix’s content, technology and other resources, it has also stated that it will not take on the company’s debt.
Iflix presently has more than 25 million active users but ran into troubled waters with decreased advertising income, which was further exacerbated by the coronavirus pandemic.
