Microsoft Studies XBox TV Channel Possibility

Xbox-LiveMicrosoft Corp. is currently checking a proposal to setup an XBox TV Channel that will be co-owned by the company and Peter Chernin, former News Corporation President and COO, Bloomberg.com reports.

The meeting between the two parties apparently took place last April 12 at Redmond, Washington.

Under the proposal, XBox Live users will have an exclusive access to the channel and will cost an additional $1 to $2 monthly. The programs would be aimed mostly to young male gamers. Original and rerun shows are being considered for the selection line-up of the proposed channel.

Microsoft has not yet responded to Chernin regarding the deal. Both are declining to make comments about the report.

Xbox, alongside Playstation 3 (PS3) and Nintendo Wii, already provides programming including movie rentals from Netflix. Microsoft charges an extra $8.99 a month for this service.

Chernin left News Corp. last June 30, 2009, taking a film and television production deal with Twentieth Century Fox, giving it and Twentieth Television the first option to buy any projects.