Intel

Intel is asking about $500 million for OnCue, the online pay-TV service that the world’s largest chipmaker developed before dialing back its ambitions, according to people with knowledge of the process. Intel is seeking to secure a sale by year-end, said the people, who asked not to be identified because the talks are private. One suitor, Verizon, has begun talking with owners of broadcast and cable channels about terms for a streaming TV service, the people said. A sale that meets Intel’s asking price would let the company recoup its costs as it retreats on a plan to enter the pay-TV business, while still supplying chips to the new owner. Samsung and Liberty Global also met with Intel, people said earlier. Intel’s TV efforts slowed under Chief Executive Officer Brian M. Krzanich, who took the reins in May and has focused on getting chips into mobile devices.

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