Google is said to be in talks with Miramax movie studio for licensing the digital rights to its films. Google is planning to acquire these
rights for telecasting the movies on its video site YouTube. If the talks fructify, then Google will be directly competing with the likes of Apple , Hulu and Netflix. The move is likely to help Google's paid rental store on YouTube. The company has refused to confirm the rumor, though.
Another beneficiary from this deal would be Google TV, which has suffered quite a few setbacks since its launch. A number of major broadcasting stations have blocked Google TV from accessing their content. Miramax is currently in the process of changing its ownership. The studio was sold by Walt Disney for $660 Million this July. The studio will now be owned by Filmyard Holdings LLC. The consortium is led by construction tycoon Ron Tutor and real estate financier Tom Barrack.
Google had recently claimed that the site is inching closer to being profitable despite its high operating costs.