Verizon Agrees to Buy Intel's Video Business
Verizon Communications, the parent company of Verizon Wireless, today announced that it has agreed to purchase Intel's cloud TV platform, called OnCue. In addition to gaining rights to the technology, Verizon will also offer jobs to about 350 Intel employees based in California. Terms of the deal were not disclosed, and it will require regulatory approval. The sale is expected to close during the first quarter of the year. Verizon believes the purchase will help it prepare next-generation video services faster. "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," said Verizon CEO Lowell McAdam. Though the deal will initially help Verizon's FiOS-based television service, it will eventually also be integrated with Verizon's 4G LTE network.
Verizon to Sell Landline Biz to Frontier for $10 Billion
Verizon Communications today confirmed plans to sell part of its wireline telephone and internet business to Frontier Communications for $10 billion. The deal covers Verizon's consumer and business assets in California, Florida, and Texas.
Verizon Zero-Rates Its Fios Mobile Video App
Verizon Wireless today said the company's Fios home internet and television customers can stream an unlimited amount of live and recorded shows over LTE without impacting their monthly data allotment. Specifically, Fios customers can use the Fios Mobile app on their smartphones and tablets to watch 140 channels of live television, movies, and stored DVR content.
Verizon Picks Up XO's Fiber Network to Beef Up Backhaul
Verizon Communications today said it has agreed to acquire XO Communications' fiber business for $1.8 billion. The deal, says Verizon, will help it serve its enterprise and wholesale customers, as well as allow Verizon to further densify its cellular network.
Verizon to Buy Yahoo's Internet Business for $4.8B
Verizon Communications today said that it has agreed to buy Yahoo's core internet and search businesses for $4.83 billion. Yahoo's properties will join AOL under Verizon's ownership, to be managed by Marni Walden, EVP and President of the Product Innovation and New Businesses organization at Verizon.
Verizon and Hearst to Acquire Complex for Mobile Content
Verizon Communications and Hearst have agreed to acquire Complex, a media organization founded by Mark Ecko that creates content for young adult audiences. Under the terms of the agreement, Verizon and Hearst will each own 50% of Complex through a joint venture.
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