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Tuesday, November 26, 2013
Intel's Internet TV Service On Sale For $500 million: Bloomberg

Intel is trying to sell its Internet television service for $500 million and wants to complete a deal by year-end, Bloomberg reported on Monday.

Verizon Communications, which has shown interest in Intel's OnCue TV service, has spoken with content providers about a streaming television service, Bloomberg also said, citing unnamed sources.

Intel did not provide any comment.

OnCue was officially launched in February, but Intel did not manage to strike deals with major programmers.

The chipmaker's new CEO, Brian Krzanich decided Intel could not afford the distraction and expense, putting the service on sale. According toBloomberg, the world's largest chipmaker hopes to secure a sale by the end of the year, and potential suitors also include Samsung and Liberty Global.

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