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The company said that money from the sale of its assets will go toward paying off liabilities and whatever remains will be returned to investors. Former Hewlett-Packard CEO Meg Whitman and Hollywood film producer Jeffrey Katzenberg were Quibi's co-founders. The service abruptly shuttering itself leaves in its wake tons of cued-up shows that are now effectively left in pipeline limbo. David Wolinsky Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. एक नौकरी की लिस्टिंग इस ओर देती है इशारा, Oppo A33 (2020) की भारतीय कीमत ऑनलाइन लीक, जल्द हो सकता है लॉन्च, Flipkart Big Billion Days, Upcoming Dussehra Sale, Amazon Great Indian Festival 2020, Best Deals, Snapchat, the Hugely Popular Messaging App, Has Chosen NDTV as Its News Partner in India, Wi-Fi Password: How To Find On Windows, Mac, iOS And Android, Vivo V20 Review | Detailed Camera Tests, 44-Megapixel Selfie Eye Autofocus, Slim Design, Nokia 225 4G, Nokia 215 4G Launched In India | Price Starts Rs. and dystopian thriller Most Dangerous Game including two Emmy wins for actors in "#FreeRayshawn.". This is a space where subscribers can engage with each other and Globe staff. Prospect editor David Dayen: Childcare reform should be priority in progressive agenda. We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below. Quibi Holdings LLC is shutting down, according to a Wall Street Journal report on Wednesday afternoon, with its demise coming just 26 months after it launched amid high expectations in August 2018. If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Founded in 2018 and trading on Mr Katzenberg's stature as a former boss of Disney and Dreamworks,  Quibi's promise to give traditional TV and film studios an edge in the online streaming wars attracted a mammoth $1.75bn (£1.3bn) in funding. Quick bites. Katzenberg’s connections helped line up stars to make and star in its videos, including Reese Witherspoon, Steven Spielberg and Jennifer Lopez. Quibi Holdings LLC is shutting down, according to a Wall Street Journal report on Wednesday afternoon, with its demise coming just 26 months after it launched amid high … As recently as September, Quibi was reportedly exploring options to stay afloat by seeking an acquisition, but as the recent announcement signals, that did not pan out. Earlier in the year, Quibi was being hailed by founder Jeffrey Katzenberg--and many media outlets--as a revolutionary new combatant in the streaming wars, with its emphasis on short-form content specifically geared for mobile devices. That means: Comments that violate our community guidelines will be removed. All rights reserved. Nintendo Switch Getting First Fire Emblem Game, Previously Japan-Only, By Jeffrey Katzenberg and Meg Whitman’s $1.75bn Netflix competitor is to close after failing to meet subscriber goals, Last modified on Wed 21 Oct 2020 23.03 BST. Read our. Find out more, The latest offers and discount codes from popular brands on Telegraph Voucher Codes, Quibi chief executive Meg Whitman speaks about the short-form video streaming service during a keynote address at the 2020 Consumer Electronics Show, Facebook finally launches its 'supreme court' – but not in time for the US election, Apple prepares for iPhone 12 release day amid local lockdowns, Ex-Google boss Eric Schmidt hits back over antitrust case, Viagogo faces forced sale of Stubhub amid competition concerns, iPhone 12 release: UK price, specs and how to pre-order Apple's new smartphone, Tesla posts new sales record and fifth quarterly profit, Quibi's promise to give traditional TV and film studios an edge in the online streaming wars, reportedly lost 92pc of its initial users after the expiry of its free three-month trial, driven consumers en masse back to larger screens.

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