This site lets you watch HBO, Disney, Fox, ABC and all the big networks at no charge. All you have to do is install the player.
I'm not sure who is behind this news but this is yet another reason the Internet is the greatest medium we have.
This will also likely piss off Apple, Amazon and the others who are trying to sell TV shows over the Internet. Now you don't need to buy a show, you can just watch it live online.
Hopefully there is a big investment infrastructure because I can imagine they will have millions of people logging on to watch shows. If the connection speed is low, they will lose their audience before the ball ever gets rolling.
Either way, this news is bad-ass. Check out the link above to see the website.