Intel Sells Its Internet TV Project To Verizon

That Intel had problems finding the content partnerships necessary for a set-top box was a well-known situation. However, the situation has developed as the company is now selling its network TV business to Verizon Communications for an undisclosed sum.

Verizon said they will use Intel's technology in existing FiOS video services to bring fresh ammunition against various cable and satellite providers. The possible outcome is expanding the FiOS availability as it is only available in certain regions.

Around 350 Intel employees, that were working for Intel, are now transferred and still working for the telecom giant. While financial terms weren't disclosed, people familiar with the matter say the price is no more than $200 million.