Intel plans to sell its yet-to-be-launched Internet TV service for $500 million: Report
Intel's project, called OnCue, has faced challenges getting off the ground since it was officially launched in February.
San Francisco: Intel Corp is trying to sell its yet-to-launch Internet television service for $500 million and wants to complete a deal by year-end, Bloomberg reported on Monday.
Verizon Communications, one of the suitors, has spoken with content providers about a streaming television service, Bloomberg also said, citing unnamed sources.
Intel declined to comment on the report. Intel's project, called OnCue, has faced challenges getting off the ground since it was officially launched in February.
The chipmaker's new CEO, Brian Krzanich, ultimately decided Intel could not afford the distraction and expense, sources familiar with the decision told Reuters last week.
While Intel came close to finalising deals with some of the major programmers, according to industry sources on both sides of the talks, the terms were such that Intel would have faced upfront outlays in the hundreds of millions regardless of how quickly the service caught on, the same sources say.
Recommended For You
- Baahubali 2 Motion Poster Indicates Just How Epic the Film Is Going to Be
- Kumble Defends Kohli & Co, Says It Was Just One Bad Day For India
- Oscars 2017: Of Androgynous Fashion Moments at Red Carpets
- Rangoon Review: Kangana Shines in This War-Time Romance
- MINI Cooper D (5-Door) Review: A Classic That Encapsulates Modern Technology