Quibi in talks to sell content catalogue to Roku: Report | Tech News

Quibi in talks to sell content catalogue to Roku: Report

Quibi found it difficult to compete with the likes of Netflix. The Covid-19 pandemic also caused problems for video streaming platform.

By:REUTERS
| Updated on: Aug 21 2022, 14:03 IST
Roku would acquire rights to Quibi's library
Roku would acquire rights to Quibi's library (REUTERS)
Roku would acquire rights to Quibi's library
Roku would acquire rights to Quibi's library (REUTERS)

Quibi is in advanced talks to sell its content catalogue to video-streaming device maker Roku Inc as the streaming service winds down operations, the Wall Street Journal reported on Sunday, citing people familiar with the matter.

Los Angeles-based Quibi, which offered entertainment and news in episodes of 10 minutes or less on mobile phones, announced its closure in October, just six months after its launch.

The service, founded by Hollywood producer Jeffrey Katzenberg and backed by other investors, was launched on April 6 when audiences were sheltering at home to help prevent the spread of the coronavirus.

Under the terms discussed, Roku would acquire rights to Quibi's library, the Journal said, adding that the financial terms of the deal were not disclosed and talks could still fall apart.

A Roku spokeswoman said the company does not comment on rumors and speculation.

Quibi did not immediately respond to Reuters request for comment.

Follow HT Tech for the latest tech news and reviews , also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 04 Jan, 10:53 IST
Tags:
NEXT ARTICLE BEGINS