Deals
Tencent Buys Assets of Struggling Streaming Platform IFlix
- Assets, not debt, included in deal, people familiar say
- IFlix fighting to survive as low-price strategy falters
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Chinese internet giant Tencent Holdings Ltd. is buying certain assets of iFlix Ltd., a struggling streaming platform with about 25 million users focused in South and Southeast Asia.
Tencent will acquire iFlix’s content, technology and resources, expanding its geographic reach in a key area of growth. The Chinese company will not take on iFlix’s debt, according to people familiar with the matter, who requested anonymity because they are not authorized to speak publicly about the deal.