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TMCNet:  Verizon, Intel, close to deal for Internet TV

[December 14, 2013]

Verizon, Intel, close to deal for Internet TV

(UPI Business News Via Acquire Media NewsEdge) Verizon Communications is close to completion of talks to buy Internet TV from U.S. chip maker Intel, sources told the Wall Street Journal.

In a deal that could be valued from $200 million to $500 million, Verizon would add to its recent purchases that enhance its presence in video offerings, the Journal reported.

In November, Intel purchased UpLynk, a service that makes it easier to upload or stream videos. This week, it said it would purchase EdgeCast, a customer-tailored ad-delivery network that could boost the company's ad revenues.

InternetTV is still in a start-up phase of development. About 350 staff members have been working on a variety of television upgrades, including work on set-top boxes and on television-Internet interface programming, the Journal said.

The company's top executive, Erik Huggers, has also said InternetTV is working on live television delivery and content storage.

Intel had been seeking around $500 million for the company, but a report in November said the two companies were discussing a deal for about $350 million.

Copyright 2013 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

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