According to the report, citing two sources with knowledge of the deal, the channel would require an Xbox Live Gold membership to access. Chernin reportedly suggested raising the monthly fee for Xbox Live Gold by $1 - $2 to "add programming aimed at the online serviceâ€™s young, male target audience" in a meeting that took place on April 12.
Such a channel, if in the works, would be owned by both Microsoft and Chernin. "Peter is talking to lots of people about lots of ideas in the digital space," said Chernin's publicist. At one point, Chernin and Microsoft were said to be in talks with Conan O'Brien before he signed a deal to do a show on TBS.
This would be a great thing for Microsoft to announce at E3 2010 and we will keep you posted with any new developments on the issue.