According to a new blog posted on the company’s support website, Quibi will be completely shut down “around December 1st.” The announcement came a day after company executives announced that Quibi would be permanently closed.
It is not clear where Quibi content can be used after the application is closed. However, the company does recommend following the Quibi hashtag on Twitter to get any news about its library catalog.
Earlier today, co-founder Jeffrey Katzenberg told CNBC that the company is currently trying to find buyers for its exhibition.
It is not clear how many of these shows show Quibi owned or for how long, but Katzenberg said he believes there are interested groups.
Quibi executives are currently working hard to close the company and figure out how to get investors to recover some of their funds.
The company is also currently involved in an ongoing lawsuit with Eko, the company’s founders claiming that Katzenberg’s team deprived Eko’s streaming technology for Quibi’s “Turnstyle” feature.
Despite the recent announcement, Eko plans to continue the lawsuit. In the past few months, Quibi seems doomed to fail.
Some predict that Quibi will eventually fail before the company is established. Until this week, Katzenberg, Whitman, and other company executives have countered these concerns.