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Image credit: Steve Marcus / reuters

Quibi chairman reportedly looked into selling its content library

'The Information' reports Jeffrey Katzenberg told people he may have to shut down Quibi.
Richard Lawler, @Rjcc
October 20, 2020
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Quibi CEO Meg Whitman speaks during a Quibi keynote address at the 2020 CES in Las Vegas, Nevada, U.S., January 8, 2020. REUTERS/Steve Marcus
Steve Marcus / reuters

Not sure about whether or not Quibi will make it? The mobile-first video service with its “quick bites” content approach and Turnstyle technology for portrait or landscape viewing has failed to make much of an impact on viewers this year. Execs blamed the pandemic for its muted launch, but now The Information cites sources who claim that founder and chairman Jeffrey Katzenberg has told people he may have to shut down the company, and they report that he tried to sell its content companies including NBCUniversal and Facebook.

When Devindra Hardawar tried Quibi earlier this year he wasn’t impressed by the content or its mobile-focused approach. Since then Quibi has released more original content, and relented a bit on its phone-first stance. It added support for AirPlay and Chromecast, and today it released a version of the app that works on Android TV, Fire TV and Apple TV.

However, if the execs are truly looking into selling off its content, then it may not be around much longer anyway. The Information suggests that $850 million recently remained from the nearly $2 billion investors poured into the company, and may give execs an incentive to call this one and repay at least some of them.

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