We've been hearing this for a long time, but someday Web TV will truly offer competition to broadcast TV some day. The Chicago Tribune has an interesting article about two new startups:

Enterprising companies like TV Worldwide and ManiaTV are already leveraging the power of the Internet with streaming media.

And although Web-based TV stations don't offer the casual ease that set-top boxes hooked to the living room TV afford, that is changing as TVs and home computers begin to merge--especially with Microsoft Corp. pushing technology like its Windows XP Media Center, which gives home computers TiVo-like functionality to record programs.

Read Web TV Gathers Steam

Also be sure to keep up with Creative Weblogging's Digital TV for more on the future of TV over IP.