Quibi is in advanced talks to sell its content catalog to Roku Inc., according to people familiar with the matter, as the short-form streaming service winds down its operations following an unsuccessful run.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ROKU | ROKU INC | 332.02 | -6.72 | -1.98% |
Quibi, which was founded by movie mogul Jeffrey Katzenberg, raised $1.75 billion with an ambitious plan to develop high-end content for mobile phones. But the service, which launched in April, never gained traction and Quibi said in October it was shutting down.
WHAT IS QUIBI?
Roku, which sells the most popular streaming-media player in the U.S., is pushing aggressively into content with its own ad-supported app, the Roku Channel, which offers movies and shows produced by other companies. A deal with Quibi would give Roku a roster of exclusive programming.
