It was back in December 2012 when we first heard that Intel had intentions to break into the market as an internet TV provider. Earlier this year, in February to be precise, the company confirmed that it had been working for over a year to set up Intel Media, a new division which was working on Intel’s TV project. ATD reports today that the chipmaker might be giving up its project soon. Apparently Intel and Verizon are talking, and the result of these talks would be the handover of Intel Media to Big Red. No confirmation has come in as yet from either company.

Citing “people familiar with the talks,” the report claims that both Intel and Verizon are in advanced negotiations. However, it is not known for sure right now if Intel Media would totally be handed over to Verizon or if Intel intends to retain a piece of it, or have a say in the division’s operations. Intel’s internet TV project is headed by Erik Huggers, his job was to create a pay TV service that would use a set-top box built by Intel. Huggers hired over 300 people which included people from the outside as well, from companies like BBC, Google, Netflix, Apple and more. A number of Intel employees have already been testing the service in their homes, but the company has apparently not been so lucky in securing programming deals from networks, which it absolutely needs before a commercial launch.

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