A slew of Quibi shows has found new life in Roku.
Roku will acquire the library of the short-lived Hollywood company founded by Jeffrey Katzenberg and has said it will stream its content with ads for free on its Roku Channel. Terms of the deal were not disclosed, although it has been widely reported that the final number came in below $100 million – a far cry from the $1.75 billion that Quibi raised.
Roku is in "advanced talks" to acquire Quibi's orphaned content library, according to a Wall Street Journal report citing unnamed sources close to the deal.
Neither Roku nor Quibi would comment, but if a deal is struck, it could provide the San Francisco-based Roku more ammunition in the streaming wars, give Quibi content a new home and pay out burned investors.
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Quibi was one of the buzziest startups of 2020. It raised $1.75 billion and had lined up A-list actors and producers for its content. The short-form streamer was the brainchild of storied executives Jeff Katzenberg and Meg Whitman. So why did it fail so quickly? On this installment from our new "dot.LA Explains" series, host Kelly O'Grady goes through five reasons experts say Quibi failed.
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