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Reuters: Intel killing television offering, selling to Verizon

updated 07:55 pm EST, Wed November 20, 2013

New CEO prioritizing things differently than exiting chair

Intel's move towards IP-based television service has seemingly run into serious delays, making the company question its commitment to the new service, according to reports. Sources claim that Intel is readying the division, called OnCue, for sale -- with the most likely buyer being Verizon.

Intel is hosting its first Investor Day on Thursday, and Reuters believes that Intel's new CEO, Brian Krzanich, is "expected to discuss the growing use of chips in everyday devices, plans to breath new life into PCs, and Intel's growing contract manufacturing business -- but not Intel TV." Intel, so far, has declined to respond to Reuters' report.

"The problem is Intel's appetite for the size of the financial risk required to launch," said investment firm BTIG analyst Rich Greenfield. Greenfield expects the launch would run in the hundreds of millions of dollars, since reticent cable services would require large up-front payments for rights regardless of the success or failure of any product. Apple is said to have run into similar roadblocks in its alleged effort to launch a future TV-related product.

Intel had allegedly reached deals, which still included bundled content, with many broadcasters and media conglomerates. These deals are said to be on hold, pending sale or refocusing of the effort by the company's new CEO.

"They really believed they could differentiate on the hardware," said semiconductor analyst Stacy Rasgon. "What they didn't understand when they started, because it is new, is it's about the content -- not about the hardware."

by MacNN Staff



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