YouTube CEO Susan Wojcicki. Mike Blake/Reuters YouTube is getting ready to take on traditional cable companies.

The online video service plans to announce Unplugged, which will stream live TV, according to the New York Post. YouTube is holding a press event on Tuesday afternoon to unveil the details.

Unplugged, which has been rumored for months, will be similar to Dish's Sling TV and AT&T's DirecTV Now, allowing users to subscribe to a so-called skinny bundle of popular pay-TV channels. The Post's report says Unplugged will cost $30 to $40 a month.

A YouTube representative was not immediately available for comment.