Roku Inc. agreed to acquire the rights to content from Quibi, a deal that will make the defunct short-form streaming service’s shows available on the biggest streaming-media player in the U.S.
Roku paid less than $100 million to acquire the shows, according to people familiar with the matter. One person said it was “significantly less” than $100 million.
Roku will display Quibi’s content in the Roku Channel, an app that is filled with more than 40,000 movies and TV shows. Roku sells advertising on the channel and has kept it stocked with fresh content by negotiating with programmers who want their content to be carried on Roku’s media player.
Roku will have the exclusive global distribution rights to Quibi’s content—more than 75 shows and documentaries—beginning this year, the companies said Friday. The Wall Street Journal earlier this week reported the two sides were in advanced talks.
The shows will be exclusive to Roku for the time that is left in Quibi’s exclusive two-year window with content creators. After that exclusivity window closes, Roku will retain the right to show the content until 2027, a spokesman said.