Quibi is in advanced talks to sell its content catalogue into video-streaming device manufacturer Roku Inc as the streaming service winds down operations, the Wall Street Journal reported, citing people familiar with the matter.
Los Angeles-based Quibi, which provided entertainment and news from episodes of 10 minutes or less on cellular telephones, announced its closure in October, just six months after its launch.
The service, based on Hollywood producer Jeffrey Katzenberg and backed by other shareholders, premiered on April the 6th when crowds were sheltering at home to help stop the spread of the coronavirus.
Under the terms discussed, Roku would acquire rights to Quibi’s library, the Journal said, adding that the financial details of the deal were not revealed and talks could still fall apart.
A Roku spokeswoman said the firm does not comment on rumours and speculation.
Quibi didn’t immediately respond to a request for comment by journalists at our news agency partners, Reuters.
The team at Platform Executive hope you have enjoyed this news article. Initial reporting via our official content partners at Thomson Reuters. Reporting by Sabahatjahan Contractor in Bengaluru. Additional reporting by Kanishka Singh. Editing by Ramakrishnan M.
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