Both declined, according to The Information. The firm recommended a shutdown, among other moves, to Quibi’s board of directors this week.
Quibi co-founder Jeffrey Katzenberg admitted he was wrong for comments he made in May blaming the entirely of the company’s failing on the coronavirus pandemic.
newsletter. Employees will be laid off and Quibi will explore selling the rights to some of its content to other media and technology firms, according to the Wall Street Journal, citing people familiar with the matter. Well here’s the hope Nikki Fre $ h and Spectacle Gayme can land on appropriate streaming services for them, and that Joe Biden does not let CEO Meg Whitman approach his cabinet.
But figures released in July estimated that just 72,000 people converted to paid subscriptions after their three-month free trials expired, finally answering our question “Is anyone watching Quibi?” with a resounding “no” Maybe things would have turned out differently if they had called him Omakase instead? “We will share a statement this afternoon. Simply to blame it on COVID is not fair, and not something either of us want to do.”, Both Katzenberg and Whitman clearly wanted to get one point across in that interview: this failure is ours. ‘Simply to blame it on COVID is not fair’. Necessary cookies are absolutely essential for the website to function properly. Six months after launching his revolutionary video-streaming service, Quibi, Hollywood mogul Jeffrey Katzenberg is looking for a buyer. These cookies do not store any personal information. “While we have enough capital to continue operating for a significant period of time, we made the difficult decision to wind down the business, return cash to our shareholders, and say goodbye to our talented colleagues with grace,” Whitman said in a statement.
Time appeared to be running out on Quibi. News AKMI is one of the Leading News Website in US, We are always happy to provide you Latest Updates of the US and World.
Save my name, email, and website in this browser for the next time I comment. “The world has changed dramatically since Quibi launched and our standalone business model is no longer viable,” Katzenberg said in a statement.