Quibi-rella Looking For Hollywood Ending With Prince SPACing - Dealbreaker

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]

Related

quibi

Quibi Lasts About As Long As A Quibi Video

Maybe Meg Whitman should have taken the Uber job instead.

quibi

Quibi Founders Looking To Raise Some Quick Cash

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

quibi

Paul Singer Thinks Quibi Has A Great Idea

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

Gary Cohn Wanderer

Since No One Else Will Have Him, Gary Cohn Is Launching A SPAC

Come on, you guys, everyone else is getting one.

(Getty Images)

Well, I Guess Anyone Can Run A SPAC

Paul Ryan is back, and expects a little tangible gratitude from you rich people.

Paul Singer Can’t Wait To Write Next Investor Letter

Short of having his arch-nemesis—Argentine President Cristina Kirchner—show up at his apartment on her knees in a sackcloth, carrying a letter of resignation and certified check for $1.7 billion, this week could hardly have gone better for Elliott Management’s Paul Singer, thanks to El Presidente.