Google is reportedly joining the growing number of technology companies looking to launch online versions of pay TV. According to sources familiar with the matter, Google has been talking with media companies about licensing content for a new streaming Internet TV service. We reported earlier that Intel and Sony are working on similar projects. Apple has also been pitching television licensing deals to media firms in recent years.

“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,” reports The Wall Street Journal.

“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.”

While Netflix, Hulu and Amazon currently offer on-demand TV, the latest initiatives are looking to offer conventional channels in addition to on-demand programming. However, there is no indication yet that any of the tech companies will be successful in striking licensing deals.

Google had discussions with media companies about a similar service two years ago, but it failed to go anywhere.

“The environment has changed since then: not only are several other technology companies actively working on similar services but pay TV providers are also asking entertainment companies for nation-wide streaming rights,” notes WSJ.

Intel plans to launch its OnCue service by the end of the year. The chip giant has been in talks with several media companies to acquire broadband-service rights. Sony, meanwhile, plans to beam its service over broadband connections to its own devices, including its PlayStation game console, TVs and Blu-ray players.

“All tech companies looking to launch a video service face a fundamental challenge: If they can’t beat cable or satellite TV on pricing and offer the same lineup of channels, it isn’t clear why consumers would switch,” suggests the article.