Roku may buy the content catalogue of Quibi, the short video streaming service which started winding down its service late last year, after launching in April, the Wall Street Journal reported. The parties are reportedly in advanced talks, sources familiar with the matter said. Under the deal at hand, Roku would acquire the rights to Quibi’s library. No financial details have been disclosed and talks could still fall apart, the sources added.
Quibi, founded by Jeffrey Katzenberg, raised USD 1.75 billion with the goal of developing high-end content for mobile phones. The service never quite took off and started shutting down in October. Quibi’s shows, with episodes less than 10 minutes in length, feature such stars as Anna Kendrick, Liam Hemsworth and Sophie Turner.
Quibi has struck deals with producers that would allow the service to exhibit their shows on its service for seven years. Some of the contracts suggest that the content can’t be aired on other platforms, some people familiar with the deal terms said. One person familiar with Roku’s view said the contract terms wouldn’t prevent the company from showing the content on its service.
Quibi is still in a legal wrangle with Eko, an interactive video technology company. Eko sued Quibi last year over a key technology feature, alleging patent infringement and theft of trade secrets.
