Hasta La Creative!

Verizon Communications, the second-largest U.S. communications company, has agreed to acquire Intel Corp.’s pay-TV startup to extend its offerings of internet-based TV services.

The acquisition of Intel Media, along with its about 350 employees, will accelerate the availability of next-generation video services, New York-based Verizon and Santa Clara, Calif.-based Intel said in a joint statement today. Financial details weren’t disclosed.

Intel, which developed the service called OnCue, began looking for a buyer last year rather than invest in the programming and bring it to market on its own. The takeover could shake up pay TV, by bringing more competition to cable companies that dominate territories, as well as satellite companies with wide coverage that lack the interactive capability of the Web.

Continue reading at AdAge.com