According to the latest news, failed mobile first streaming service Quibi is in advanced discussions to sell the rights of its content library to Roku. This was first reported in The Wall Street Journal. However, the Wall Street Journal report does not indicate a potential price for the acquisition. The report in fact elaborates that the two parties might not reach a deal ultimately.
However, if the deal takes place, the deal could give Roku Channel exclusive access to Quibi’s slate of programming. Frankly, so far, none of Quibi’s shows ever really took off or was well received by the consumers but Roku feels that the content might stand a better chance when it is available on the best selling streaming devices in the US.
Just six months after its much hyped launch, back in October 2020, Quibi announced that it is going to shut down. The service was headed by former HP CEO Meg Whitman and former Disney chairman and movie producer Jeffrey Katzenberg.
Before the launch of the app, Jeffrey Katzenberg managed to raise almost $2 billion in funding.
As per The Information, Katzenberg had already tried to get companies including Facebook and NBCUniversal to pick up Quibi programming ahead of its demise.