Insider sources have leaked information that Quibi is engaging manufacturer of media players for video streaming Roku Inc. (ROKU) with intentions of selling its content catalogue to Roku as the company seeks to wind down its operations.
Back in April last year, Quibi launched a short-form streaming platform that produced content for viewing on mobile devices the content included entertainment and news arranged in episodes of 10 minutes or less.
Unfortunately, in October roughly about six months after its launch, Quibi closed down the short-form streaming platform.
Quibi was hoping to capitalize on the fact that individuals were confined in their homes due to stay at home orders imposed across the world in efforts to combat spread of the deadly virus during the time it was launching the short-form streaming platform.
This development was first reported on Wall Street Journal, according the post on WSJ Roku is set to acquire the library of Quibi. WSJ said financial information about the deal was not revealed as the deal could still fall apart.