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 has
reported.
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.
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