The streaming platform, relying on smaller formats (with different viewing angles depending on the orientation of the smartphone), was already in trouble last month as it looked for a buyer.
The ax fell on Wednesday, according to sources familiar with the case cited by the Wall Street Journal. The announcement was allegedly made by Investors founder Jeffrey Katzenberg.
In a statement given by AFP, he said, “The world has changed radically since the launch of QB and our economic model is no longer viable in itself.” Company CEO Meg Whitman said, “It is with a heavy heart that we are announcing today that we are going to slow down our activities and sell technical content and assets.”
“Our failure is not for lack of effort, we have considered and eliminated all available options”, indicates the director through the conclusion.