Roku Said to Be in Talks to Buy Quibi Content Catalogue: Report

Quibi is in complex talks to promote its content material catalogue to video-streaming instrument maker Roku because the streaming provider winds down operations, the Wall Street Journal reported on Sunday, mentioning other folks acquainted with the subject. Los Angeles-based Quibi, which presented leisure and information in episodes of 10 mins or much less on cellphones, introduced its closure in October, simply six months after its release.

The provider, based by means of Hollywood manufacturer Jeffrey Katzenberg and subsidized by means of different traders, was launched on April 6 when audiences had been sheltering at house to assist save you the unfold of the coronavirus. Katzenberg had advised Reuters that the streaming provider used to be downloaded greater than 2.7 million instances inside simply over two weeks of its release in early April.

Under the phrases mentioned, Roku would achieve rights to Quibi’s library, the Journal said, including that the monetary phrases of the deal weren’t disclosed and talks may nonetheless fall aside.

A Roku spokeswoman stated the corporate does now not touch upon rumours and hypothesis.

Quibi didn’t straight away reply to Reuters request for remark.

The video provider, led by means of former Hewlett-Packard leader government officer Meg Whitman, price $5 (kind of Rs. 400) a month with commercials and $8 (kind of Rs. 600) with out them. Quibi presented leisure and information in episodes of 10 mins or much less on cellphones, with its programming that includes a big roster of A-list stars together with LeBron James, Chance the Rapper, and Reese Witherspoon.

© Thomson Reuters 2020

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