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Verizon may be streaming TV's next big entrant

The company is reportedly securing streaming rights, in hopes of launching a new internet TV service this summer.

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A Verizon online TV service would compete with Sling TV, DirecTV Now and more rivals coming this year.

Justin Sullivan/Getty Images

Another batch of cheaper TV options is coming.

Among a growing list of online TV services, Verizon is lining up to become the newest streaming TV provider, according to Bloomberg, which cited people familiar with the plans. The telecommunications giant has been securing streaming rights from network owners and this summer expects to launch a nationwide internet TV service that will include dozens of channels, the report said Thursday.

A Verizon representative declined to comment Friday.

Verizon's plans would follow Dish Network's Sling TV, a shorter-and-cheaper-than-standard list of channels, often called a "skinny bundle," which launched two years ago. AT&T's DirecTV Now is also available. Additional services from YouTube, Hulu and potentially Comcast are expected to arrive later this year.

All these services point to a shift for the television industry, with more consumers looking to terminate their cable or satellite service and find trimmed-down options as their viewing habits migrate online.

Verizon already offers a TV package through its Fios broadband service, as well as a mobile streaming-video service called Go90. But with Go90 failing to build up a sizable audience, Verizon may be looking to try a new concept to gain more viewers.

Verizon's online TV plans would support its effort to become a bigger player in making and distributing media, as its wireless business has matured. The company bought AOL in 2015 and plans to close a $4.5 billion deal to buy Yahoo this year.