Verizon and Intel ‘close to agreeing TV deal’

US telco Verizon is reportedly close to agreeing a deal with Intel to buy the latter’s internet-based TV business.  

Bloomberg reported that the deal could close as soon as this week, while The Wall Street Journal said separately that Verizon may pay less than US$200 million (€145 million) for the OnCue asset.

Intel was previously reported to be looking for some US$500 million for its TV investment.

Intel’s TV efforts started two years ago when the firm hired former Microsoft and BBC executive Erik Huggers to take charge of the OnCue project, which was due to be a subscription OTT service delivered via an advanced set-top box.

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

According to reports, Intel CEO Brian Krzanich, who took the Intel top job earlier this year, is looking to shed the TV development in order to focus Intel’s efforts on its core microchip business.