Check out this release:
PRESS RELEASE: GET READY! THE NEXT REVOLUTION IN TV STARTS LABOR DAY WEEKEND! ManiaTV The World's 1st Internet Television Networ Launches Monday, September 6th, 2004

You gotta love how they try and sound hip. check out the quote:
"ManiaTV! was founded by whiz kid Flounder (circa Animal House 1976) in a dive cheeseburger joint in Palo Alto known as “The Dutch Goose”. Flounder loves the Internet and loves TV so he set out to marry the two. And, unlike Bill Gates and 20 other really smart guys who are trying to deliver Internet over your TV, Flounder is naively focused on delivering TV over the Internet. Crazy huh? But he kinda believes (mortgaged his house) that the Internet is the favored medium of the future—at least among those born after the Thriller era. Assisting and creating alongside him are a team of wicked smart interns (who write luminous documents like this one—is it any wonder that the word “genius” and the word “intern” have the same number of letters?)

So enough hype, what is ManiaTV! broadcasting exactly? And 24/7? Keepin’ it simple. ManiaTV! delivers you Internet addicts the best mix of music, short films, action sports, video games, cartoons and news with a four-legged twist. So tune in. All hosted by our wannabe “CyberJockeys”. And viewers can rap with ‘em in real-time via webcams, Instant Messaging, Skype (not a disease, but free VOIP—get with it already!), chat, and more. Still with us?"

Pretty cool. Guess you can tune into live TV and interact using Skype. Doesn't MTV do something similar where TV viewers can submit text messages that display on music videos? Forget what it's called. Bubble - something?