At CES, its management team promised major announcements well before NAB, and it's delivering. Verizon has been on a buying spree lately, adding EdgeCast and UpLynk to Verizon Digital Media Services. Pretty much all of the 350 people that were part of Intels unit will get job offers too. Verizon and Intel have offered no indication of what the terms of the deal might be. While Verizon certainly has the bandwidth to deliver the service, missing from the announcement is any indication that the company will be able to sign content deals with studios or networks, or that it will offer consumers more attractive packages than they get from their current pay TV providers. Verizon is buying all intellectual property rights and other assets that enable Intels On-Cue Cloud TV. Verizon announced today that it is purchasing Intel Media assets including the OnCue TV platform. Content will be integrated with Verizon's fiber optic networks for home viewing and streamed to mobile devices over Verizon's 4G LTE wireless network. Verizon sees OnCue as a way to differentiate FIOS video from other pay TV offerings. Jobs will stay in the Santa Clara, California, area and the division will have the same management team.Īfter regulatory approvals, the deal should close in the first quarter of this year. (Pocket-lint) - Intel has announced that its selling off Intel Media - the company behind its failed OnCue pay-TV service - to Verizon. As part of the agreement, Verizon will offer to hire roughly 350 workers previously employed by Intel. The deal is expected to go down for about 500 million. OnCue Verizon is currently in negotiations with Intel (INTC) to buy OnCue, an internet based TV system. If the deal goes through, it can be a significant growth driver for Verizon. Verizon to Purchase Intel Media Assets Transaction Will Accelerate the Availability of Next-Generation Video Services. Another possibility, as I’ve speculated before, is using OnCue to create an online video platform for Redbox, the. Verizon is looking to buy Intels OnCue to add to its pay-TV system. Neither party disclosed the terms of the agreement, but the Wall Street Journal reports that Intel had been looking for around $500 million for the division and CNET reports that industry sources valued the division as worth $300 million. OnCues boss Erik Huggers is out at Verizon, and he isnt alone: at least four other executives have left Verizon, or decided not the join the company when the OnCue acquisition closed. Verizon could use OnCue to add a Netflix-like web video service to Redbox. Intel announced today that it has come to an agreement with Verizon to sell all of its cloud TV business assets. Intel couldn't make OnCue work - its effort at creating an all-streaming live and on-demand pay TV network to challenge cable and satellite providers.
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