Verizon is close to inking a deal with Intel to buy the chip maker’s yet-to-be launched online TV service OnCue. Intel originally planned to launch the service by the end of the year, but the company’s new CEO Brian Krzanich decided that Intel shouldn’t be in the TV business, after all.
SourceVerizon Communications Inc. (VZ) is near an agreement to purchase Intel Corp. (INTC)’s Internet-based pay-TV startup, according to people familiar with the discussions. Verizon may announce the deal as soon as next week after final details are complete, said the people, who asked not to be identified because the agreement isn’t public. Intel, which developed the service called OnCue, began looking for a buyer this year rather than invest in the programming and bring it to market on its own.
