Bloomberg: Intel asking for $500M for TV business, Verizon thinking big

|About: Intel Corporation (INTC)|By:, SA News Editor

Bloomberg reports Intel (INTC) has set an asking price of $500M for the assets of its would-be Web TV service, and is hoping to reach a deal by year's end.

Though lacking any revenue, the business does have some potentially valuable IP and software assets stemming from startup acquisitions, as well as Intel's efforts to create a unique set-top UI and cloud DVR for its service.

Verizon and Liberty Global have already been rumored to be talking with Intel about possibly buying the unit.

Bloomberg's sources indicate Verizon (VZ) is looking to use the Intel unit as a springboard to offer its own Web TV service, one that would expand its TV reach to areas not covered by FiOS. Verizon has reportedly been asking content owners if it would need new contracts to offer a Web TV service, or if it could simply amend its FiOS deals.