The deal is worth $27.6m.
Singtel today revealed that it has formed a joint venture company with entertainment giant Warner Bros Entertainment and AXN Investment, a subsidiary of film production powerhouse Sony Pictures.
The three parties will pour $27.6m into HOOQ Digital, which will offer a regional over-the-top (OTT) video service in Asia. Singtel will own 65% of the firm, while Warner Bros. and AXN will each have a 17.5% stake.
HOOQ will deliver both Hollywood blockbusters and television series, as well as popular local movies and programmes to customers anytime, anywhere by enabling them to stream and download their favourite shows on their device or platform of choice.
At launch, HOOQ will have a catalogue of over 10,000 movies and TV series including titles from partners Sony Pictures Television and Warner Bros. Entertainment.
HOOQ will be rolled out progressively in the Singtel Group’s Asian footprint, including Indonesia, the Philippines, India and Thailand, from the first quarter of 2015.
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