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Asian Streamer Hooq’s Slow Motion Liquidation Keeps Producers in Limbo
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variety.comBy Patrick Frater Asia Bureau Chief Asian production companies are being kept in suspense by a liquidation of the now defunct streaming service Hooq that is taking a painfully long time to execute.
Further, many former staff remain unhappy at the treatment they have received at the hands of Singapore Telecommunications (Singtel), the state-backed telecoms giant that owned more than 80% of Hooq, and which called in the liquidators at the end of March.
Burdened by mounting losses and attempting to succeed in a fast-evolving Southeast Asian streaming market, Hooq lost its battle to stay in business when Singtel decided that enough red ink was enough.
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