Roku buys video-streaming app Quibi's content library

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(Reuters) – Video-streaming device maker Roku Inc said on Friday it had acquired the global distribution rights to Quibi’s content library, nearly three months after the short-form video streaming app was shut down following an unsuccessful run.
Financial terms of the deal were not disclosed.
Roku, popularly known for its devices used to stream services such as Netflix and Amazon Prime Video, is pushing aggressively into content with its own app, Roku Channel, that offers films and shows produced by other companies.
More than 75 shows and documentaries on Quibi will be available this year on Roku’s free, ad-supported channel.
The Quibi deal marks the company’s entry into the crowded market of original content production.
Quibi, which …

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