Intel is reportedly nearing media companies Time Warner, NBC Universal and Viacom in order to strike agree deals that would allow the company offer TV shows and films for an online multichannel pay-TV service. Intel is reportedly negotiating financial terms with the media companies, Bloomnerg reported today citing "people with knowledge of the situation." The media companies have already signed off on the outlines of the proposed service, the report added.

Intel's vice president for media, last month confirmde the company's plan to offer a pay-TV service this year based on its own set-top box.

Intel is also about to begin financial negotiations with News Corp., while perliminary talks have also taken place with Walt Disney and CBS Corp.

Most probably, Intel's service would offer media companies more profits than existing cable and satellite-TV systems.