Intel's whirlwind fling with IPTV has come to an end, as all its assets from the ill-fated OnCue project have been sold to Verizon. Started less than a year ago to create a product with "beautiful industrial design" that could stream movies, TV shows and other media, it quickly fell out of favor with Intel brass. Following rumors it would be killed, a possible Verizon deal was reported, which has now been finalized for undisclosed terms. Verizon will get all related intellectual property and said that all 350 Intel employees working on the project will be retained. It added that it already has extensive content and customer relationships for video delivery -- a reported stumbling block for Intel -- and will use the tech "to better serve audiences on a wide variety of devices." We're not sure if that'll include any tie-ins to Big Red's Redbox Instant streaming service, which hasn't exactly made the likes of Hulu or Netflix nervous (yet).
*Verizon is currently in the process of acquiring AOL, Engadget's parent company. However, Engadget maintains full editorial control, and Verizon will have to pry it from our cold, dead hands.