Intel Reportedly Wants $500 Million For Its Internet TV Service

It has been known for quite some time now that Intel has been working on an internet based TV service which would be powered through a set-top box that would be built by the company itself. However Intel’s TV service has failed to take off and recently it has been rumored multiple times that the chip maker is looking to offload the entire project. The latest from Bloomberg News suggests that Intel is asking $500 million for the service and it looks to wrap up the sale by the end of this year, which isn’t that far off.

The report says that Intel had created set-top boxes during the time it was working on its internet TV project and that it also developed mobile applications for smartphones and tablets through which subscribers would have been able to stream content. It goes without saying that Intel did put in substantial resources in this project, one that it now looks to get off its hands. Verizon has been rumored to be interested in the project, which is headed by the Intel Media division. The latest report once again hints at Verizon as a possible buyer, Big Red can use the division to expand its footing in the TV reach beyond FiOS. Verizon and Intel are said to be in talks, but no official confirmation has materialized as yet.

Adnan Farooqui
Categories: Gadgets
Tags: Intel, Verizon