July 29, 2021

Info IEC

Business & Finance Information

Roku Nears Deal to Buy Rights to Quibi’s Content

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.

Quibi, which was founded by the 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 that it was shutting down.

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.

Under the terms the companies have discussed, Roku would acquire rights to Quibi’s library, the people familiar with the matter said. Financial terms of the proposed deal couldn’t be learned. The deal talks could still fall apart.

Quibi’s shows, with episodes less than 10 minutes in length, feature such stars as Anna Kendrick, Liam Hemsworth and Sophie Turner. The shows include “Most Dangerous Game,” a thriller about human-hunting; “Dummy,” a series about a talking sex doll; and “Murder House Flip,” a fusion of home-improvement programming and true-crime shows.

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