News website TV Newser broke the story late Wednesday that Glenn Beck will launch a Web-based television service called GBTV that bears the tagline, "The Truth Lives Here."

When Beck's company Mercury Radio Arts announced in March that it was hiring Joel Cheatwood, Beck's producer at Fox News, media pundits speculated that a new television platform was in the making for Team Beck.

Two months ago New York Times business reporter Brian Stelter noted, "Two of the options Mr. Beck has contemplated, according to people who have spoken about it with him, are a partial or wholesale takeover of a cable channel, or an expansion of his subscription video service on the Web."

Ironically, Media Matters For America posted a story earlier Wednesday mocking Beck for his lack of follow-through regarding his intention to parlay "his break with Fox News (into) an opportunity to do amazing things on the Web."

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