Verizon is a well-known and (arguably) respectable company with plenty of weight under its belt. That being said, their decision to buy out Intel Media comes across as an interesting decision that could really be an upcoming game changer. 

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It shouldn’t come as too much of a surprise, considering some of the predictions from last quarter, but what Verizon essentially purchased were the assets of the OnCue Cloud TV platform, a more or less failed project that provided internet-based TV. Coupled with Verizon’s FiOS fiber networks, many are saying this was the right choice for both companies, even if the progress could use some speeding up.

Verizon has already teamed up with other large names in order to promote its video service, like working with Comcast to make Nuon, a product that was meant to be an alternative to online video by putting TV and mobile connections together. But late into its development, the project was pulled when Verizon and Comcast had an abrupt end to their partnership.

From there, Verizon continued to change and move forward, still looking to gain some insight of the TV business, like the Redbox Instant and Verizon’s Flex View, but with the technology from the OnCue service, Verizon is looking to finally be able to compete against Comcast.

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Lowell McAdam, CEO of Verizon, told USA Today “We will have the opportunity to enhance, expand, accelerate and integrate our delivery of video products and services to better serve audiences on a wide array of devices." He also went on to mention that audiences should expect to receive more content on the go, “when, where, and how they want it.”

The deal includes the IP rights and other assets that contributed to the OnCue TV platform.
Read more here.

 

Reach Executive Producer/Tech Editor Eric Parra here.