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Photo: Igor Golovniov/SOPA Images/LightRocket via Getty Images

Roku announced Friday that it is acquiring the rights to stream all of Quibi’s library of 75 original shows to its more than 50 million users.

Why it matters: The deal is part of a broader effort by Roku to offer free content that the platform believes will help attract and retain subscribers.

Details: Specifically, the content from Quibi will help Roku attract a younger audience, which provides a lucrative advertising opportunity.

  • All of Quibi’s content will live on Roku’s free, ad-supported channel. The Roku Channel is one of the most popular on Roku’s smart TV platform.
  • Roku acquired Quibi Holdings, LLC, the company that holds all of Quibi’s content distribution rights following an internal restructuring.
  • The deal is really just about acquiring content. No employees were acquired and financial deal terms were not disclosed.

What they’re saying: “The most creative and imaginative minds in Hollywood created groundbreaking content for Quibi that exceeded our expectations,” said Quibi founder Jeffrey Katzenberg.

  • "We are thrilled that these stories, from the surreal to the sublime, have found a new home on The Roku Channel.”

The big picture: Quibi had struggled to hit its subscriber growth targets during the global pandemic.

  • The app shut down just six months after launch. Its high-profile founders Meg Whitman and Jeffrey Katzenberg had touted it as a revolutionary new way to consume premium content on phones.

Go deeper: Quibi says it’s shutting down after six months

Go deeper

42 mins ago - Politics & Policy

Stalemate over filibuster freezes Congress

Illustration: Sarah Grillo/Axios

Senate Majority Leader Chuck Schumer and Mitch McConnell's inability to quickly strike a deal on a power-sharing agreement in the new 50-50 Congress is slowing down everything from the confirmation of President Biden's nominees to Donald Trump's impeachment trial.

Why it matters: Whatever final stance Schumer takes on the stalemate, which largely comes down to Democrats wanting to use the legislative filibuster as leverage over Republicans, will be a signal of the level of hardball we should expect Democrats to play with Republicans in the new Senate.

Dave Lawler, author of World
1 hour ago - World

Biden opts for five-year extension of New START nuclear treaty with Russia

Putin at a military parade. Photo: Valya Egorshin/NurPhoto via Getty

President Biden will seek a five-year extension of the New START nuclear arms control pact with Russia before it expires on Feb. 5, senior officials told the Washington Post.

Why it matters: The 2010 treaty is the last remaining constraint on the arsenals of the world's two nuclear superpowers, limiting the number of deployed nuclear warheads and the bombers, missiles and submarines which can deliver them.

Updated 1 hour ago - Technology

Facebook refers Trump ban to independent Oversight Board for review

Photo: Alex Edelman/AFP via Getty Images

Facebook's independent Oversight Board has accepted a referral from the platform to review its decision to indefinitely suspend former President Trump.

Why it matters: While Trump critics largely praised the company's decision to remove the then-president's account for potential incitement of violence, many world leaders and free speech advocates pushed back on the decision, arguing it sets a dangerous precedent for free speech moving forward.