Qualcomm to axe Flo TV service

Qualcomm has just announced that they will be shutting down its Flo TV operations, so hopefully that piece of news might shore up the company’s share price as it eliminates another source of economic bleeding. Staff over at Flo TV were informed late last week by Bill Stone, president of MediaFlo and Flo TV, where end 2010 is the target period for all operations to cease. Currently, the company is talking to AT&T as well as Verizon concerning the future of its white-label wholesale service. While another one bites the dust, it does leave the back door open for a new player to enter the market.