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Say what you will about Jeff Katzenberg and Meg Whitman—and there are a great many unkind things to say about both of them, and indeed a goodly number of those things have, in fact, been said about them—they are not stupid, and they are not illiterate. Arrogant, out-of-touch, immune to criticism, surrounded by yes men, sure. They may even be intellectual property thieves. But they can see the extremely grim subscriber numbers and, if the e-mails we get from their representatives are any indication, they can also read. And if they can read, they can read more than just articles talking about how bad their Quibi short-form video platform is flopping. Whitman, especially, would seem likely to be aware of the billions and billions of dollars splashing around Wall Street in the form of blank-check companies that literally anyone can and has launched. And perhaps one or more of them would like to buy a $1.75 billion hole filled with content no one asked for or is interested in paying for, and which may eventually be completely upended by Paul Singer? Sure, it doesn’t sound like a very attractive option, but Airbnb doesn’t seem to be available and the number of SPAC suitors in need of a mate continues to grow.

Streaming service Quibi is exploring several strategic options including a possible sale, according to people familiar with the situation… Quibi, which launched its short-form, mobile-focused video service in April, is also considering raising more money or going public through a merger with a special-purpose acquisition company, or SPAC—essentially a blank-check company that helps fund deals….

The company has enough cash on hand to last for the next several months and isn’t in danger of shutting down imminently….

Quibi Explores Strategic Options Including Possible Sale [WSJ]



Quibi Lasts About As Long As A Quibi Video

Maybe Meg Whitman should have taken the Uber job instead.


Quibi Founders Looking To Raise Some Quick Cash

That short-form video payday looks awfully far away right now.


Quibi Lawsuit Ends Like Quibi: Quickly

Those hoping to learn more about Paul Singer’s lovelife will be disappointed.


Quibi’s Most Compelling Content Ever Is A Posthumous Legal Brief About Paul Singer’s Lovelife

The short-form failure would prefer to discuss what favors the hedge fund manager may be doing to whether it stole its signature technology.


Paul Singer Thinks Quibi Has A Great Idea

The only problem is, he think it stole it from someone else.


Behold: The Most Incestuous SPAC Deal Yet

We move a step closer to the inevitable SPAC merging with itself.


Paul Singer Is Sad To See Quibi Go

In fact, he’s rather insistent it stick around for a little longer. Or a lot longer, depending on how long it takes to get his money.


SPAC To Merge With SPAC That Merged With Spinoff From Company The First SPAC Is Merging With

This may be the first SPAC to essentially merge with itself, but it will most assuredly not be the last.