Intel reportedly close to selling web TV business to Verizon

Intel is reportedly close to signing a deal to sell Intel Media – the division tasked with building its web-based, subscription set-top TV service – to US telco Verizon.

According to an All Things D report, which cites people familiar with the talks, the two firms are in “advanced negotiations” though it is unclear whether Intel will sell its entire media arm or keep a part of its web TV project.

Intel’s TV efforts have been two years in the making. The firm hired former Microsoft and BBC executive Erik Huggers in 2011 to take charge of the project, believed to be a subscription OTT service delivered via an advanced set-top box.

Though this was originally slated to launch this year under the brand name OnCue, reports from September claimed that Intel may miss this goal and was seeking a partner with an existing internet subscriber base or content rights.

Huggers also reportedly expressed interest in formerly vacant CEO role at US internet TV firm Hulu, before the post was filled by Fox Networks executive Mike Hopkins earlier this month.