Sources Contact Advanced Search Tutorials

An Interest In:

Web News this Week

Search Archive

Some of Our Sources

View All Sources

Help Webnuz

Referal links:

October 9, 2020 07:24 pm

'Revolutionary' Video-Streaming Service Quibi is Up For Sale Six Months After Launch; Apple, WarnerMedia, and Facebook Have Turned Down the Offer

The Information: Six months after launching his revolutionary video-streaming service, Quibi, Hollywood mogul Jeffrey Katzenberg is looking for a buyer. So far, he is coming up short [paywalled; alternative source]. Over the past few weeks, Katzenberg has pitched several tech and entertainment executives about buying Quibi, only to be turned down. Among those he approached was Eddy Cue, Apple's senior vice president of internet software and services, and WarnerMedia CEO Jason Kilar, according to people familiar with the situation. He and his partner in Quibi, former HP CEO Meg Whitman, also made formal presentations to executives at other tech companies, including Fidji Simo, head of the Facebook app, only to get rejected there as well, the people said. It's possible Katzenberg will still strike a deal. Other companies, including in the gaming industry, could be interested. A spokeswoman for Quibi had no comment. The stakes are high for Katzenberg, a veteran of Hollywood. Quibi was an ambitious idea: a service aimed at people on the go, airing episodes of everything from news programs to dramas with episodes of just a few minutes each. Major talent including Kevin Hart and Chrissy Teigen made shows for the service. Katzenberg raised $1.75 billion to fund the service, including from major entertainment companies including Disney and Warner Bros., Chinese internet giant Alibaba and Madrone Capital, the private investment fund of Walmart heir Rob Walton. But Quibi has struggled to gain traction.

Slashdot

Slashdot was originally created in September of 1997 by Rob "CmdrTaco" Malda. Today it is owned by Geeknet, Inc..

More About this Source Visit Slashdot