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Verizon streaming TV service said to take on Sling TV this summer

Lowell McAdam, Verizon CEO
Justin Solomon | CNBC
Lowell McAdam, Verizon CEO

Verizon will launch a streaming TV service to challenge Sling TV, AT&T's DIRECTV Now and Sony's PS Vue, Bloomberg saidThursday.

Verizon's pricing is likely to be on a par with existing options, Bloomberg said, which means consumers should expect to pay around $35 to $40 per month for an entry-level tier of bundled channels. Bloomberg said Verizon is aiming to provide "dozens" of channels at launch. Competitors, like Sling and PS Vue, also charge extra for premium add-ons like HBO or Starz. AT&T's DIRECTV Now service currently bundles HBO for free.

Verizon isn't the only one planning a new streaming TV launch. In January, Hulu announced that it's also going to launch a streaming service that will provide recommendations and other custom content to viewers.

Read the full report at Bloomberg.