Quibi is in advanced talks to sell its content catalog to Roku Inc.,
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according to people familiar with the matter, because the short-form rendering service terminates its operations following a failed run.
Quibi, which was founded by film mogul Jeffrey Katzenberg, has raised $ 1.75 billion with an ambitious plan to develop high-end content for mobile phones. But the service, which was launched in April, never gained traction, and Quibi said in October it would stop.
Roku, which sells the most popular streaming media player in the US, is aggressively moving towards content with its own advertising application, Roku Channel, which offers movies and shows produced by other companies. An agreement with Quibi would give Roku an exclusive schedule.
Under the conditions the companies discussed, Roku would acquire rights to Quibi’s library, said people familiar with the matter. The financial terms of the proposed agreement could not be learned. Discussions about the deal could still fall apart.
Quibi’s shows, with episodes of less than 10 minutes, feature stars such as Anna Kendrick, Liam Hemsworth and Sophie Turner. Shows include “The Most Dangerous Game,” a show about human hunting, “Dummy,” a series about a talking sex doll, and “Murder House Flip,” a fusion of home improvement programs and real-life crime shows.
Quibi has entered into agreements with producers that allow Quibi to exhibit its shows in its service for seven years. Some of the contracts suggest that the content cannot be shared on other platforms, said some people familiar with the terms of the agreement. A person familiar with Roku’s vision said that the terms of the contract would not prevent the company from displaying the content of its service.
Write to Amol Sharma at [email protected], Benjamin Mullin at [email protected] and Cara Lombardo at [email protected]
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