This post is by Jason Hellerman from No Film School
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After only 6 months, is Jeffery Katzenberg selling Quibi?
According to a WSJ report, Quibi has fallen on some hard times. With subscriptions low, Jeffrey Katzenberg is exploring a potential sale of the bite-size streaming platform. The company is supposedly considering other options, including another round of funding or going public through a merger with a special purpose acquisition company, or SPAC.
A Quibi spokesperson said: “Quibi has successfully launched a new business and pioneered a new form of storytelling and state-of-the-art platform. Meg [Whitman] and Jeffrey are committed to continuing build the business in the way that gives the greatest experience for customers, greatest value for shareholders, and greatest opportunity for employees. We do not comment on rumor or speculation.”
That “no comment” neither confirms nor denies the report. But we didn’t really expect them to either, right?