Verizon Could Announce Intel’s TV Service Acquisition Next Week

It has been rumored multiple times in the past that Verizon is interested in acquiring Intel’s TV service that failed to take off. While there has reportedly been interest from other suitors as well, Verizon’s name has popped up time and again, it is certainly believed that Big Red is committed to picking up the service. Citing people familiar with the discussions, Bloomberg reports that Verizon could announce the deal to purchase Intel’s internet based TV service as soon as next week.

Intel worked on the service, called OnCue, for quite some time before deciding to give up on investing in it and releasing the service on its own. Since early this year, the company is said to have been looking for a buyer. Final details of the deal between Verizon and Intel have reportedly been hammered out, which is why it is believed that an announcement could be made next week. Verizon will then be able to use OnCue to extend its existing pay TV service beyond FiOS. It hasn’t been revealed just how much Big Red is going to pony up for OnCue, but according to previous rumors, Intel was asking for as much as $500 million. Spokespersons for both Intel and Verizon have declined to comment on this report, which means that we now have to wait until next week to be absolutely sure about OnCue’s future.

Adnan Farooqui
Categories: General
Tags: Intel, Verizon