Quibi Is Exploring a Sale: Live Updates

Here’s what you need to know:

Credit…Etienne Laurent/EPA, via Shutterstock

Quibi, the short-form streaming service started by Jeffrey Katzenberg and led by Meg Whitman, is exploring a sale of the company, two people familiar with the matter said Monday.

The company is working with financial advisers to consider a range of options that also include raising money or going public by merging with a special purpose acquisition vehicle, according to the people, who spoke on condition of anonymity to discuss company plans.

Quibi was launched earlier this year with the aim of providing short entertainment and news videos for people on the go. But it fell out of the list of the 50 most downloaded free iPhone apps in the United States after just a week when it debuted in April. Executives blamed the coronavirus

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