Microsoft has been plotting out its plan to imbue Xbox 360s with cable box-like TV powers for months, and is now gearing up to launch the live TV service, which it says will include “news, sports and your favorite channels” as well as on-demand video.

CNN reports Microsoft CEO Steve Ballmer says “dozens or hundreds of additional video content suppliers” will be teaming with Microsoft to add options for viewers. Microsoft has already started similar programs in Europe and Australia, and has dipped its toes into live TV offerings with its ESPN 3 integration.

Ballmer did not reveal the price or identify participating content providers.

Microsoft to launch Xbox TV later this year [CNN via Joystiq]

Previously: Microsoft Wants To Turn Your Xbox Into A Cable Box

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