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Intel sells OnCue TV business to Verizon

Christina Medici Scolaro
Tuesday, 21 Jan 2014 | 2:49 PM ET
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The hardware and software were built, the personalized user interface was ready and deals with content companies were all but signed and just like that, it's over.

Intel confirms it sold its media assets to Verizon. Although reports said the deal was worth up to $200 million, neither company would comment on the price.

Intel's plan for the OnCue platform was to enable users to watch live or recently aired content on-demand in their homes and on mobile devices.

The services will deliver programming through Verizon FiOS network and "over the top" to any device.

The companies confirm 350 Intel workers who helped build the service will be hired by Verizon.

The transaction is expected to close early in the first quarter of 2014.

By CNBC's Christina Medici Scolaro.

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