Good deal for buyer & seller

Article Excerpt

INTEL CORP. $25 (Nasdaq symbol INTC; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 5.0 billion; Market cap: $125.0 billion; Price-to-sales ratio: 2.4; Dividend yield: 3.7%; TSINetwork Rating: Above Average; www.intel.com) is selling its Intel Media business, which is developing a service called OnCue that lets users watch TV shows over the Internet. VERIZON COMMUNICATIONS INC. $48 (New York symbol VZ, Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 2.9 billion; Market cap: $139.2 billion; Price-to-sales ratio: 1.1; Dividend yield: 4.5%; TSINetwork Rating: Average; www.verizon.com) is the buyer. Verizon did not say how much it would pay when the deal closes in the next few weeks. Intel had trouble securing enough content for OnCue, which forced it to delay launching the service. Selling the media business will let the company focus on its main computer chip operations. Verizon sells TV services through its FiOS fibre optic service, so it already has distribution deals in place with movie and…