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ISSUE – Oct. 27| Verizon is buying Jason Kilar’s video startup Vessel and shutting it down

Verizon said Wednesday it is buying the technology behind Vessel, the short-form video firm started by former Hulu CEO Jason Kilar. The telecom giant is acquiring Vessel’s product and technology, but plans to shut down the Vessel service. Kilar won’t be joining Verizon long-term, but his co-founder, Vessel CTO Richard Tom, will become the CTO for Verizon’s digital entertainment efforts, including its Go90 mobile video service. [ Recode ]