Intel reportedly wants $500M for delayed streaming TV effort
Chip giant planned a subscription service to deliver live and on-demand content over broadband connections but ran into resistance from TV programmers.
Intel may have given up on developing its own Web TV service, but that doesn't mean it is going to give it away.
The chip giant is asking about $500 million for the delayed service, according to a Bloomberg report that cites unidentified sources with knowledge of the process. Intel is reportedly looking to wrap up the sale before the end of the year.
Earlier this year, Intel announced its plans to launch hardware and software that allow for live TV, on-demand TV, and content streaming. The subscription service, dubbed OnCue, was to deliver programming over a broadband Internet connection, known as "over the top." The service was supposed to be available this year, but in September, Intelto 2014.
The company has recently been reported to be in various discussions with Samsung, Verizon Communications, and Liberty Global about taking over the effort, which was being tested in Intel employees' homes after hundreds of people were hired to work on the project. However, the effort is said to have slowed under CEO Brian Krzanich, who initiated a reorganization after taking over the company's helm in May and favors a focus on the mobile chip market in the face of a declining PC market.
The company faced external resistance as well, most notably from TV content providers that rebuffed Intel's overtures for content deals. Intel has yet to announce any TV programming partners, and Time Warner Cable and other cable TV providers have been pressuring channel owners to shun pacts with Intel and other Internet-based TV providers.
An Intel spokesperson declined to comment on the report.