Roku In Talks To Acquire Rights To Quibi’s Library – Report
Quibi’s vast library of short-form content may have found a new home.
According to the Wall Street Journal, Roku is nearing a deal to buy the content catalog of Quibi, the short-form mobile streaming platform launched by Jeffrey Katzenberg and Meg Whitman that launched in April 2020 before shuttering in December.
The WSJ reports that Roku would acquire the rights to Quibi’s content but the specific details and financial terms of the proposed deal haven’t been revealed and the deal could still fall through.
Katzenberg and Whitman’s $1.75 billion venture was set to change the way we consume content with series and films that were served in 10-minute bits or less. In January 2020, the pair shared the first look at the “turnstyle” content that featured projects with high-wattage Hollywood talent such as Guillermo del Toro, Steven Spielberg, Antoine Fuqua, Reese Witherspoon, Anna Kendrick, Liam Hemsworth, Sophie Turner, among others. The hype and buzz for the new platform continued at Sundance where they allowed the masses to experience the new app.
After launching, Quibi didn’t gain much traction and in October it was announced that they were shutting down. They officially shut down shop on December 1.
Under some of the deals at Quibi, producers partnered with Quibi to exhibit their shows on the platform for seven years. According to WSJ, there were some contracts that stated the content couldn’t be shared on other platforms. Roku’s contract terms wouldn’t prevent the company from airing the content.
Read More About:
Source: Read Full Article