The short-form video startup Quibi is now a short-lived platform. (Adweek)
The streaming video app founded by Hollywood mogul Jeffrey Katzenberg and former HP chief executive Meg Whitman is shutting down after a brief, disappointing run, during which it couldn’t manage to get a true foothold on the cutthroat media landscape. (TVNewser)
The streaming service, which served up shows in five-to-10-minute “chapters” formatted to fit a smartphone screen, has been plagued with problems since its April debut, facing lower-than-expected viewership and a lawsuit from a well-capitalized foe. (WSJ)
“We feel that we’ve exhausted all our options. As a result we have reluctantly come to the difficult decision to wind down the business, return cash to our shareholders, and say goodbye to our colleagues with grace,” the company announced. (The Verge)
The statement did not say when the service would stop streaming, noting that subscribers will receive separate notifications naming a final date for access. (NPR)