According to sources speaking with Bloomberg, Microsoft is in talks with former News Corp President Peter Chernin (who's currently got a gig at Fox) over bringing a TV channel to its Xbox 360 console.
Beginning earlier this month, the discussions revolve around bringing a full channel of programming to the 360, which would include both new shows and re-runs, all aimed at a "young, male target audience".
The channel would be a joint venture (and would be co-owned) between Chernin and Microsoft. That's all the... news. Now the bad news: it seems that in order to foot the bill for this, Chernin has suggested raising the price of an Xbox Live Gold subscription by a dollar or two a month.
Seems a bit steep for something many people wouldn't be terribly interested in, what with the fact their TV sets already have TV channels on them that bring them TV shows. But that's one of the key drawbacks of Microsoft's all-encompassing subscription model, I guess.
If you think this is all crazy talk, at least it's consistent crazy talk, as Bloomberg's sources say Chernin was also the one floating the idea of bringing Conan O'Brien to Xbox Live a few weeks back.