Intel seeks $500m for OnCue

Intel Corp is trying to sell its un-launched OTT service for $500 million and wants to complete a deal by year-end. Verizon Communications, tipped as candidate, is already speaking with content providers according to Bloomberg.

OnCue has faced challenges getting content providers interested since it was launched last February. The chipmaker’s new CEO, Brian Krzanich, ultimately decided Intel could not afford the distraction and expense.

While Intel came close to deals with some of the major programmers  the terms meant Intel would have faced upfront outlays in the hundreds of millions regardless of how quickly the service caught on.

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