Google is reportedly looking to create a streaming TV service, according to the Wall Street Journal. Google has been meeting with media companies to negotiate for TV channels streamed over broadband connections, creating competition for TV programming providers like Comcast or Time Warner.

Google has thus far made tentative strikes from both sides of the TV programming line: its Google TV platform is available in set-top boxes and televisions, and the company has set up gigabit fiber networks in a few cities. These quiet meetings with media companies may result in the logical next step of Google-provided TV content.

For the service to work, Google would have to strike licensing deals with the media companies to carry their channels via video stream. Google would likely be getting similar deals for “over-the-top” rights that other programming providers do, meaning it will negotiate for packages that involve both popular and unpopular channels.

The WSJ notes that the size of the distributor influences how good the package pricing is. Google, as a newbie, might face a price premium, but it seems like the deep Google pockets could foot the bill if the company views it as an investment. The WSJ states that Intel has pursued similar negotiations with media companies for over a year.

Google could complete its self-styling as a Time Warner Cable or Comcast wannabe if it managed to throw its own cable package into the Google Fiber/Google TV mix. With all the talk of cable cutting, it seems Google could be rushing in to the very place customers are rushing out of (to a certain extent).

Then again, Aereo has enjoyed popularity, providing something free (antenna channels) in an Internet-friendly way at a low cost. If Google can repackage cable the same way, it may be able to win back some attention to more traditional TV programming.