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Streaming service Quibi explores strategic options, including sale - WSJ

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.

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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;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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