Report: Intel Is Seeking $500M For Streaming TV Division
Intel has stopped developing their own Web TV service and they are looking for a buyer. Intel wants to sell the service for around $500 million, according to Bloomberg. Intel is looking to end the sale by the end of the year.
Intel said earlier this year that they would be planning to launch hardware and software for live TV and content streaming services. The service was code-named OnCue. The service was expected to launch later this year. However, Intel put the project on the back burner in September.
The product launch was postponed to 2014. Now Intel is talking to Samsung, Verizon Communications, and Liberty Global. Intel got as far as testing the project in employees’ homes after hundreds of people were hired to work on the project.