AT&T to produce streaming TV shows, becoming the next Netflix?

It looks like just about every big tech company is trying to capitalize on original, streaming programming these days so it might not be surprising to hear about AT&T's rumored venture into the business. Just like Yahoo!, Amazon, and others, the race to become the new Netlfix is on!

CNET reports:

AT&T wants to get into show business. The company said on Tuesday that it was partnering with media holding company The Chernin Group to create a joint venture that would acquire, invest in, and launch online video services. The two companies have committed $500 million in funding for the venture. It's the latest move by AT&T to diversify its revenue beyond its core phone business. With so-called over-the-top video services such as Netflix posting surging profits, AT&T wants to get in on the action as well. The company has been looking to expand the kinds of services it can deliver either through its wireless or wired network as it looks to avoid the fate of becoming a "dumb pipe" that can only make money off of connection fees.

According to this report, the company has already tapped The Chernin Group to help with this new venture. If this company sounds familiar, it is the production company behind Fox's sitcom New Girl. Perhaps we'll get to see more of this brand of comedy with AT&T's new online streaming service.

What do you think of the possibility of a new online streaming service similar to Netflix? Are you overwhelmed with all of these already? Let us know in the comments section below.