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Not content with to rest on their laurels as one of the most dominant social networking sites in the world, MySpace has supposedly begin entering into the IPTV market. A silent deal with a small group of Hollywood talent may lead the site to begin broadcasting an original series. Not over the air, like traditional stations, but skipping straight to broadcasting the series online, making it one of the pioneers in a very emerging market.

MySpace isn't commenting on the potential deal, but given that they are owned by News Corp and already have a massive audience, it seems the perfect platform to launch a show online. Similar projects like this are underway. With serious financial backing, MySpace could easily become a platform to do this on a much larger scale:

According to a source, Zwick and Herskovitz, who were also behind the hit TV shows "thirtysomething" and "My So-Called Life," are expected to split QuarterLife into short segments for viewing on the Web. MySpace has reportedly bought each episode for about $400,000.
The aging medium of traditional TV could definitely do with a revamping, as the rise in demand for IPTV, content on demand on more customizeable media have shown. It wouldn't surprise me at all to see a TV become an Internet-connected box that serves whatever shows you pick. MySpace hasn't officially confirmed this yet, but are expecting to comment soon.