Streaming service Quibi explores strategic options, including sale - WSJ

FILE PHOTO: Quibi CEO Meg Whitman speaks during a Quibi keynote address at the 2020 CES in Las Vegas, Nevada, U.S., January 8, 2020. REUTERS/Steve Marcus

Quibi, the streaming service founded by former Disney executive Jeffrey Katzenberg, is exploring several strategic options including a possible sale, the Wall Street Journal reported on Monday, citing people familiar with the matter.

The company is also considering raising more money or going public through a merger with a special purpose acquisition company, the report said.

Quibi said it does not comment on rumor or speculation.

FILE PHOTO: Quibi founder Jeffrey Katzenberg speaks during a Quibi keynote address at the 2020 CES in Las Vegas, Nevada, U.S., January 8, 2020. REUTERS/Steve Marcus

Katzenberg told Reuters earlier this year the streaming service was downloaded more than 2.7 million times within just over two weeks of its launch in early April. (https://reut.rs/2EoKhsE)

The video service, led by former Hewlett-Packard Enterprise Co chief executive officer Meg Whitman, costs $5 a month with ads and $8 without them.

Quibi offers entertainment and news in episodes of 10 minutes or less on mobile phones, with its programming featuring a large roster of A-list stars including LeBron James, Chance the Rapper and Reese Witherspoon.

(Reporting by Ayanti Bera in Bengaluru; Editing by Aditya Soni)