Intel's TV plans are dead; will sell off its Intel Media unit to Verizon

Intel's plans to launch an ambitious Internet-based TV service are now officially cancelled. As previously rumored, the company announced today it will sell off its Intel Media unit to Verizon. The deal is expected to close by the end of the first quarter of 2014.

Intel's press release states that Verizon will integrate the company's TV technology with its FiOS Internet service. In a statement, Intel CEO Brian Krzanich is quoted as saying:

Intel Media's over-the-top TV products are truly innovative and under Verizon's ownership have the potential to change how people interact with content. The critical factor in gaining efficient access to content is based on your ability to scale quickly in subscribers and end users, which is why selling these assets to Verizon makes perfect sense, with its millions of FiOS network and wireless customers. 

While specific financial terms of the deal were not disclosed, Intel did confirm that most of the 350 people employed at Intel Media will be offered jobs at Verizon. Last week, Intel announced plans to cut five percent of its current workforce by the end of 2014.

Intel first announced its plans to launch an Internet TV service in early 2013, with a launch scheduled by the end of that year. There were rumors that it would include a cloud-based DVR, a way to access content on mobile devices and more. However, Intel reportedly ran into issues with obtaining content rights from TV channels and as a result decided to partner with another company to get those rights. That partnership plan evolved into a full sale of the Intel Media unit.

Source: Intel | Image via Intel

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12 Comments

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they were trying to make an iptv box. Cable companies and channel companies like disney (that own loads of channels inc espn) don't want their profits reduced so refuse to sign up.

torrentthief said,
they were trying to make an iptv box. Cable companies and channel companies like disney (that own loads of channels inc espn) don't want their profits reduced so refuse to sign up.

Unfortunately NETFLIX has the monopoly with a welcoming price tag...

Another one falls. Everyone seems to be trying to crack the tv market, but they always seem to hit a brick wall with the content providers.

Now it leaves MS and Sony as the high profile companies that have active plans for getting tv content that is not relying on the traditional methods.

trooper11 said,
Another one falls. Everyone seems to be trying to crack the tv market, but they always seem to hit a brick wall with the content providers.

Now it leaves MS and Sony as the high profile companies that have active plans for getting tv content that is not relying on the traditional methods.

Netflix are leading the way followed by Amazon and if HBO ever seperate their option for worldwide availabilty.

Once broadband is standard like gas, electricity, water then we will see the end of big content providers tied with cable. So, a very long time.

coresx said,

Netflix are leading the way followed by Amazon and if HBO ever seperate their option for worldwide availabilty.

Once broadband is standard like gas, electricity, water then we will see the end of big content providers tied with cable. So, a very long time.

When I can get something like Netflix in my country and other such services that are for now limited to the US and/or a few other countries then that would be great. Otherwise the content providers are still going to limit things and i'll get my media by other means.

coresx said,

Netflix are leading the way followed by Amazon and if HBO ever seperate their option for worldwide availabilty.

Once broadband is standard like gas, electricity, water then we will see the end of big content providers tied with cable. So, a very long time.

The problem is that every company wants to have control over their own content. I already have Netflix, Viaplay and Sumo (Norwegian solutions), in addition to NBA league pass, and in the summer I get Csports for the Norwegian football league. This sets me back over $150 a month, and I still don't get everything I want, and having to switch between all the services is extremely annoying.

They need to get their **** together. Setting up an "online DVR" is just so much easier