SAN FRANCISCO Nov 25 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 finalizing 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.