Quibi’s $1.75B experiment ends with Roku acquisition for “lower than $100M”

Quibi, the curious “TV in your telephone” service that lasted for roughly six months final 12 months, will quickly stay on—as a free-with-ads channel on Roku.

After rumors started circulating earlier this week, Quibi and Roku confirmed on Friday that the 2 firms had reached phrases for an acquisition, placing most of Quibi’s hours of authentic programming into Roku’s fingers. Many of the Quibi service concerned scripted sequence, together with documentary and reality-TV content material, and Roku will host these sequence on a devoted Roku “channel” later this 12 months, whereas Quibi’s earlier “each day” information episodes won’t be a part of the deal.

Surprisingly, it isn’t only a deal for final 12 months’s content material. No matter had been beforehand cranking as a part of the Quibi portfolio of expertise and producers seems to be again on the desk, with Roku telling customers to count on “greater than a dozen new applications” that hadn’t beforehand debuted on the Quibi app in 2020. Roku did not use as we speak’s bulletins to make clear what the programming is, however Selection pegs most of the reveals as documentary miniseries, together with a horror sequence written by Steven Spielberg that might have initially solely been out there for streaming throughout nighttime hours.

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