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Jeffrey Katzenberg’s Quibi Is Looking to Sell Itself Among Other Possible Options (Report)

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variety.com

Todd Spangler NY Digital EditorQuibi, the mobile subscription TV startup founded by Jeffrey Katzenberg, is exploring “strategic options” for the company including a potential sale, the Wall Street Journal reported.Launched in April 2020, Quibi has raised about $1.75 billion from major studios and other investors and has banked dozens of original series coming from Hollywood A-listers.

The major question is who, exactly, would be interested in acquiring the struggling Quibi venture, given the weak traction the service has seen to date.The possible sale of Quibi comes as it has had a tough time signing up subscribers, which came just weeks after the COVID-19 pandemic began sweeping across the U.S.Among other potential moves it is exploring,.

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