Roku Set to Acquire Quibi's Program Library

Roku (NASDAQ: ROKU) is poised to acquire the entire video catalog of short-form streaming outfit Quibi, the Jeffrey Katzenberg and Meg Whitman start-up that sought to do for mobile video what Netflix (NASDAQ: NFLX) did for TV streaming.

Quibi was a mobile-only platform that shut down 18 months after launch due to a failure to attract any interest from the public. Although it had signed on some Hollywood star power to produce content, and lined up advertisers to help support it, the service didn't catch on at all with the public.

By acquiring the rights to the Quibi library, Roku will have available to it exclusive programming it can offer on its own Roku Channel platform to supplement the content produced by others.

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Source Fool.com