Is Google leading the online TV streaming race?

Google is reportedly in talks to create a live streaming TV service, meeting with several media companies to thrash out a deal.

The internet search giant is in the midst of negotiating for TV channels to be streamed over broadband connections according to the Wall Street Journal, as it races to lead the online TV market.

Citing sources familiar with the matter, the WSJ claims the company will join tech firms such as Intel, Sony and Apple on the TV licencing scene, with all pitching varies ideas to companies during the past few years.

"Google has recently approached media companies about licensing their content for an Internet TV service that would stream traditional TV programming, people familiar with the matter say," the WSJ reports...

"Google has made overtures to some programmers in recent months about the initiative, people familiar with the situation said.

"In at least one case, Google has provided a demonstration of the product, according to a person who saw the demonstration. Google didn't immediately have a comment.

"If launched, the Internet-TV services could have major implications for the traditional TV ecosystem, creating new competition for pay-TV operators that are already struggling to retain video subscribers."

These hush-hush style meetings gives the strongest indication yet that the company will take the next step of its Google-provided TV content strategy, after launching Google TV in October 2010.

The company did try a similar approach a few years ago which amounted to little, and the WSJ is quick to remind that there is no guarantee Google will actually secure any deals on the licensing front this time also.

Claiming that media companies are nervous about licensing new online pay services, the website believes Google will have to accept standard rates in order to shake hands on the agreement.

"To get decent rates for so-called over-the-top TV services, Google and other companies will almost certainly have to accept the standard programming bundles that cable and satellite operators pay for—packages that include highly popular and less popular channels," the WSJ reports.

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