Verizon reportedly in Web TV service talks, sells real estate for $274M

|About: Verizon Communications (VZ)|By:, SA News Editor

The NY Post reports Verizon (VZ +1.5%) has held initial talks with TV network owners about offering a Web-based version of its FiOS TV service that would be delivered over 3rd-party broadband networks.

Sources add Verizon isn't sure whether it needs new deals with network owners for the service, and whether it should first focus on marketing TV Everywhere offerings to current FiOS subs.

Intel and Sony are already working on creating Web TV services. Pay-TV providers have been less than thrilled, and the same would almost certainly hold for a Verizon offering. Google is also reportedly interested.

FiOS is currently available to 18M U.S. households, of which 34.5% had signed up for its TV service by the end of Q2. A Web-based service would let Verizon reach the other ~100M.

Meanwhile, Verizon, which now has a little more debt than it used to, is selling 40% of the space in an NYC building at 140 West St. to a residential real estate group for $274M. Verizon will continue using the rest of the building. (PR)