Home Business Streaming service Quibi explores strategic choices, together with sale – WSJ

Streaming service Quibi explores strategic choices, together with sale – WSJ

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© Reuters. Quibi CEO Meg Whitman speaks throughout a Quibi keynote handle on the 2020 CES in Las Vegas

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(Reuters) – Quibi, the streaming service based by former Disney govt Jeffrey Katzenberg, is exploring a number of strategic choices together with a potential sale, the Wall Road Journal reported on Monday, citing individuals acquainted with the matter.

The corporate can be contemplating elevating extra money or going public by way of a merger with a particular objective acquisition firm, the report mentioned.

Quibi mentioned it doesn’t touch upon rumor or hypothesis.

Katzenberg advised Reuters earlier this 12 months the streaming service was downloaded greater than 2.7 million occasions inside simply over two weeks of its launch in early April. (https://reut.rs/2EoKhsE)

The video service, led by former Hewlett-Packard Enterprise Co chief govt officer Meg Whitman, prices $5 a month with adverts and $8 with out them.

Quibi affords 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.

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