Quibi is shutting down just months after launching [MSNBC.com]
Comcast Corporation - Class A (CMCSA)
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Source: MSNBC.com
Quibi, the short-form video streaming service from Jeffrey Katzenberg and Meg Whitman, announced Wednesday that it will be shutting down. The abrupt end to the expensive project comes just six months after its debut.Quibi was reported to be returning$350 millionThe company struggled to win over subscribers and meet its growth targets. Since it launched in April, Quibi has faced tepid reviews and internal strife, and it has failed to win over consumers in the numbers it needed to thrive.Katzenberg was already exploring options last month, includingselling the companyThe service, which was highly anticipated given the involvement of Katzenberg, the former chairman of Walt Disney Studios and a co-founder of DreamWorks Animation, included a solid roster of shows with producers and stars such as LeBron James, Jennifer Lopez, Steven Spielberg, Kevin Hart and Chrissy Teigen.The format featured five- to 10-minute episodes of shows, and the service could initially be accessed only on mobile de
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- 4/26/24 - Form DEFA14A
- 4/25/24 - Form 10-Q
- CMCSA's page on the SEC website