Quibi
Roku announced that it has acquired the rights to Quibi’s streaming library. Quibi announced in October that it was shutting down after about six months of operation. Roku plans to bring Quibi’s content to the Roku Channel, where viewers will be able to watch it for free, supported by ads. Roku shares ticked higher after the announcement, climbing by about 5%. Q3 2020 hedge fund letters, conferences and more Roku rescues Quibi's contentRoku and Quibi did not reveal how much the deal was worth, but a source told The Wall Street Journal that Roku paid "significantly less" than $100 million to ac...
ValueWalk
Quibi will officially close its doors in DecemberStreaming service Quibi will officially close for service "on or about December 1".Following the news that the short-form video streaming platform is to close after just six months, the app has given users a date for when they can expect it to shut down.In a blog post entitled 'Quibi End of Service Announcement', they wrote: Quibi has made the difficult decision to wind down. We will end streaming on or about December 1, 2020.At this time we do not know if the Quibi content will be available anywhere after our last day of service. We recommend f...
BANG Showbiz English
Streaming service Quibi is to close after just six months.The short-form streaming platform was founded in August 2018 as NewTV by Jeffrey Katzenberg and was led by Meg Whitman.However, it has failed to compete with the industry's leaders Netflix and Amazon Prime.Katzenberg said in a statement: “The world has changed dramatically since Quibi launched and our standalone business model is no longer viable."Whitman added: “Quibi is not succeeding.“Likely for one of two reasons: because the idea itself wasn’t strong enough to justify a standalone streaming service or because of our timing. “Unfort...
BANG Showbiz English
CNBC Exclusive: CNBC Transcript: Quibi’s Jeffrey Katzenberg and Meg Whitman speak With CNBC’s “Squawk Alley” today on shutting down operations.Q3 2020 hedge fund letters, conferences and moreWHEN: Today, Thursday, October 22WHERE: CNBC’s “Squawk Alley”Following is the unofficial transcript of a CNBC TV EXCLUSIVE interview with Quibi’s Founder Jeffrey Katzenberg and CEO Meg Whitman on CNBC’s “Squawk Alley” (M-F, 11AM-12PM ET). Following is a link to video on CNBC.com:Quibi CEO: Shutting down operations was most honorable choice for shareholdersJULIA BOORSTIN: Thanks, Carl. Well Quibi is shuttin...
ValueWalk
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