Roku is in advanced talks to acquire Quibi’s original series catalog, the Wall Street Journal reports.
Jeffrey Katzenberg’s startup shuttered in October, the $4.99-a-month streaming service built for mobile devices and privately funded with nearly $1.8 billion succumbing just six months after launch.
WSJ didn’t report a ballpark sales price.
Roku saw advertising sales on its platform spike another 78% in the third quarter to $319 million. Usage of the ad-supported Roku Channel, which Roku launched just over three years ago, has been instrumental in that growth.
Quibi’s catalog of series, chopped up into 10-minute episodes, includes a reboot of Comedy Central’s Reno 911, as well as an iteration of the Richard Cornell classic, The Most Dangerous Game, starring starring Liam Hemsworth. Both series were Emmy nominated for best short-form comedy or drama.
Licensing content for Roku Channel has been challenging for Roku. It was reportedly a sticking point in the company’s negotiations to support Comcast’s Peacock and WarnerMedia’s HBO Max last year
As for Quibi, it carved out a number of sweetheart deals for its legion of high-profile makers, allowing them to maintain ownership of their shows after finite runs on the platform.
Quibi shut down with around $750 million in cash still left in the bank.
Daniel Frankel is the managing editor of Next TV, an internet publishing vertical focused on the business of video streaming. A Los Angeles-based writer and editor who has covered the media and technology industries for more than two decades, Daniel has worked on staff for publications including E! Online, Electronic Media, Mediaweek, Variety, paidContent and GigaOm. You can start living a healthier life with greater wealth and prosperity by following Daniel on Twitter today!
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