Quibi may be gone, but the legal battles over the doomed Jeffrey Katzenberg and Meg Whitman run short-form subscription video service continue – until now. A year and a half after Elliott Managemen…
A year and a half after Elliott Management-backed interactive-video companyaccused the about to launch Quibi of stealing the technology behind the much touted Turnstyle feature, the likely exhausted parties have struck a deal.
Set to be filed in federal court in the next few days for official confirmation, Quibi corporate successor QBI Holdings, LLC and Eko have agreed to end their lawsuits against each other. Details of the deal are confidential, but no money changed hands, I hear.Related StoryAllowing viewers to literally flip their devices for whole new aspects of particular programming, the much-hyped smartphone feature that started all this back in those dark days of March 2020.
Late last year, as Quibi was going through its death throes, Judge Christina Snyder determined that there was “sufficient” evidence that the trio of ex-Snap staffers had committed theft of trade secrets. Still, even with that, Judge Snyder did not allow Eko to put Quibi’s assets on ice, which kept this whole thing going long after there was no Quibi to quibble over anymore.
Its “quick bite,” on-the-go programming suddenly played very differently, and compounding that was the lack of many breakout shows. The fact that most of its target market was not on the move at all in a mainly locked down America certainly didn’t help an already hard slog. After struggling through the summer, Katzenberg and Whitman announced in October that they were facing reality and Quibi would shut down by December 1, 2020. In January 2021, dozens of its shows were scooped up by Roku and re-deployed on the company’s free, ad-supported Roku Channel. The acquisition cost, Roku said, was significantly less than $100 million.
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