According to a report from the Wall Street Journal citing sources familiar with the matter at hand, Quibi is in advanced talks to sell its content catalog to video-streaming device maker Roku Inc following the streaming service provider winding down its operations.
Los Angeles-based Quibi, which offered entertainment and news in episodes of 10 minutes or less on mobile phones, announced its closure in October 2020, just six months after its launch.
The service, founded by Hollywood producer Jeffrey Katzenberg and backed by other investors, was launched on April 6, 2020 after the imposition of lockdown measures to help prevent the spread of the coronavirus.
Under the terms of the agreement, Roku would acquire the rights to Quibi’s library. The financial terms of the deal have not been disclosed.
Sources warned that talks are ongoing and that the deal has not been finalized and could potentially fall apart.
In a statement Roku’s spokeswoman said, the company does not comment on rumors and speculation.
Quibi did not immediately respond to requests for comments.