Sony aims to shake up pay TV with Internet alternative
Sony (SNE) on Thursday introduced the first multichannel Internet television service designed as an alternative to traditional pay-TV offerings from cable and satellite companies. Called PlayStation Vue, Sony’s Web TV service will be available initially to owners of PlayStation 3 and 4 video game consoles. It will offer live and on-demand programming with technology to personalize what content is presented. In a press release, Sony called PlayStation Vue a “pioneering new cloud-based TV service that reinvents the television experience.” PlayStation Vue will launch commercially in the first quarter. Invitation-only beta testing will begin this month in New York, followed by Chicago, Philadelphia and Los Angeles. Sony will expand the service from PS3 and PS4 consoles to Apple (AAPL) iPads soon and later to more Sony and non-Sony devices. During beta testing, PlayStation Vue will offer about 75 channels from CBS (CBS), Discovery Communications (DISCA), Fox (FOX), NBCUniversal…