Quibi Streaming Service Explores Strategic Options, Including Sale: Report


Quibi, the streaming service based by former Disney government Jeffrey Katzenberg, is exploring a number of strategic choices together with a attainable sale, the Wall Avenue Journal reported on Monday, citing folks acquainted with the matter.

The corporate can also be contemplating elevating more cash or going public by a merger with a particular objective acquisition firm, the report said.

Quibi stated it doesn’t touch upon hearsay or hypothesis.

Katzenberg advised Reuters earlier this yr the streaming service was downloaded greater than 2.7 million occasions inside simply over two weeks of its launch in early April.

The video service, led by former Hewlett-Packard chief government officer Meg Whitman, prices $5 (roughly Rs. 400) a month with advertisements and $8 (roughly Rs. 600) with out them.

Quibi gives leisure and information in episodes of 10 minutes or much less on cellphones, with its programming that includes a big roster of A-list stars together with LeBron James, Likelihood the Rapper and Reese Witherspoon.

© Thomson Reuters 2020


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