Less than seven months after its launch, the nascent streaming service Quibi is shutting down, the company announced on Wednesday.
The service was also facing a lawsuit from media company Eko, which claimed Quibi was violating patents.
Multiple sources told the Wall Street Journal that Quibi founder Jeffrey Katzenberg called investors on Wednesday to tell them he is shuttering the service.
Quibi — short for “quick bites” — debuted in April and offered original programming in the form of five-to-10-minute chapters.