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Quibi is in advanced talks to sell its content catalog to Roku Inc., according to people familiar with the matter, as the short-form streaming service winds down its operations following an unsuccessful run.
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Quibi, which was founded by movie mogul Jeffrey Katzenberg, raised $1.75 billion with an ambitious plan to develop high-end content for mobile phones. But the service, which launched in April, never gained traction and Quibi said in October it was shutting down.
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Roku, which sells the most popular streaming-media player in the U.S., is pushing aggressively into content with its own ad-supported app, the Roku Channel, which offers movies and shows produced by other companies. A deal with Quibi would give Roku a roster of exclusive programming.