Quibi is in advanced talks to sell its content catalog to Roku Inc.,
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according to people familiar with the matter, as the short-form transmission service terminates its operations after an unsuccessful execution.
Quibi, founded by film mogul Jeffrey Katzenberg, raised $ 1.752 billion with an ambitious plan to develop high-end content for mobile phones. But the service, which launched in April, never gained strength and Quibi said in October it would stop.
Roku, which sells the most popular streaming media player in the United States, is aggressively pushing content with its own advertising app, the Roku Channel, which offers movies and programs produced by other companies. An agreement with Quibi would give Roku an exclusive programming list.
Under the terms the companies have commented on, Roku would acquire rights to the Quibi library, according to people who knew the subject. The financial terms of the proposed agreement could not be known. Negotiations on the deal could still unravel.
Quibi’s shows, with episodes less than 10 minutes long, feature stars such as Anna Kendrick, Liam Hemsworth and Sophie Turner. Shows include “Most Dangerous Game,” a program 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 established agreements with producers that allow Quibi to exhibit its shows at its service for seven years. Some of the contracts suggest that the content may not be transmitted on other platforms, according to some people familiar with the terms of the agreement. A person familiar with Roku’s opinion said the terms of the contract would not prevent the company from displaying the content of its service.
Write to Amol Sharma to [email protected], Benjamin Mullin to [email protected] and Cara Lombardo to [email protected]
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