Guillermo del Toro and Sam Raimi signed to produce shows for new Quibi streaming service

The horribly named Quibi (short for “quick bites”) is a new streaming service focused around short-form video content for mobile devices. It’s helmed by ex-Disney and DreamWorks executive Jeffrey Katzenberg and ex-HP CEO Meg Whitman. Aiming to take on video services from Instagram and Facebook, Quibi has already raised $1 billion in an initial funding round. – Jon Porter, The Verge