Media VP Erik Huggers had dreams of making a big impact on the TV market (or at least get a foot in the door) with a special unit of the company called OnCue
, but it was not to be. Word emerged back in October
that Intel may have a deal in the works with Verizon
, and according to the Washington Post’s sources, that deal may be imminent.
The final details should be nailed down within days, and an announcement could come as early as this week. Recent reports
indicated that Intel was seeking $500 million for the OnCue service.
With OnCue’s assets, Verizon will look to expand its FiOS
TV offerings, which could help the mobile carrier further challenge entrenched pay TV providers. It’s not clear whether or not Verizon will have to negotiate new programming contracts if it indeed snaps up OnCue.
Assuming the deal goes through, Intel is officially out of the pay TV business.