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

Quibi, the curious "TV on your phone" service that lasted for roughly six months last year, will soon live on-as a free-with-ads channel on Roku.

After rumors began circulating earlier this week, Quibi and Roku confirmed on Friday that the two companies had reached terms for an acquisition, putting most of Quibi's hours of original programming into Roku's hands. Most of the Quibi service involved scripted series, along with documentary and reality-TV content, and Roku will host these series on a dedicated Roku "channel" later this year, while Quibi's previous "daily" news episodes will not be part of the deal.

Surprisingly, it's not just a deal for last year's content. Whatever had been previously cranking as part of the Quibi portfolio of talent and producers appears to be back on the table, with Roku telling users to expect "more than a dozen new programs" that hadn't previously debuted on the Quibi app in 2020. Roku didn't use today's announcements to clarify what the programming is, but Variety pegs many of the shows as documentary miniseries, along with a horror series written by Steven Spielberg that would have originally only been available for streaming during nighttime hours.

Read 5 remaining paragraphs | Comments