BBC Studios Invests in Jeffrey Katzenberg's Quibi
"We both see good opportunities to work together on future projects," says the commercial arm of the BBC.
BBC Studios, the commercial arm of U.K. public broadcaster BBC, has acquired a stake in Jeffrey Katzenberg and Meg Whitman’s upcoming shortform video service Quibi.
The price tag and size of the stake acquired, which are understood to be small, weren't disclosed.
"We are pleased to have concluded an investment in Quibi, and we both see good opportunities to work together on future projects," BBC Studios said.
Broadcast magazine first reported the news of the BBC Studios investment in the upcoming shortform video service.
Warner Bros., Viacom, NBCUniversal, Sony and U.K. TV giant ITV are also among the investors in Quibi.
BBC Studios recently unveiled its first Quibi commission, a nature documentary about female animals with the working title Fierce Queens.
The mobile TV app has been ramping up its programming commissions ahead of its April 2020 launch.