Streaming service Quibi explores strategic options, including sale - WSJ
Sept 21 (Reuters) - Quibi, the streaming service founded by former Disney executive Jeffrey Katzenberg, is exploring several strategic options including a possible sale, the Wall Street Journal reported on Monday, citing people familiar with the matter.
The company is also considering raising more money or going public through a merger with a special purpose acquisition company, the report said. (https://on.wsj.com/3ciUqn0)
Katzenberg told Reuters earlier this year Quibi was downloaded more than 2.7 million times within just over two weeks of its launch in early April. (https://reut.rs/2EoKhsE)
The short-form, mobile-focused video service costs $5 a month with ads and $8 without them and had been originally promoted for on-the-go viewing.
Quibi, led by former Hewlett-Packard chief executive officer Meg Whitman, did not immediately respond to a Reuters request for comment.
(Reporting by Ayanti Bera in Bengaluru; Editing by Aditya Soni)
((Ayanti.Bera@thomsonreuters.com; 646 223 8780 - 3401;))
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