Why Roku Stock Jumped 5% Today

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Shares of streaming platform Roku (NASDAQ: ROKU) are up 5% as of noon EST Friday, after it confirmed a previous rumor that it had acquired the exclusive global distribution rights to short-form streaming platform Quibi. 

Quibi was shut down just six months after it was launched by Hollywood mogul Jeffrey Katzenberg. Now Roku will utilize its free ad-supported Roku Channel to stream over 75 shows and documentaries created for Quibi by Hollywood’s leading studios and production companies

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