AT&T and Comcast, the present tycoons in the cable world might be having sleepless nights with the latest news doing the rounds, as Google might soon take over the cable television industry.

According to news sources, these are considered as the conception days of the project and Google still seems to be directionless rather it still remains a speculation as of now. But the news must have caused some ripples in the AT&T and Comcast camp; although they can breathe easy for now and build their next plan of action in anticipation.

What are the speculative services that Google might come up with? Well, as per the Wall Street Journal reports the search engine major is having discussions for distributing major television channels from Walt Disney Co., Time Warner and Discovery Communications but these discussions are still at an early stage and there has been no concrete deal sealed so far. It is still not clear if the video, internet and phone services will be combined in this project. This project could in fact be the larger vision of Google to provide hi-speed internet network in various parts of the country.

So you ask when this Google project has been initiated. The proposed Google paid cable TV project was first announced in February 2010 and in the beginning of this year the company came up with the fibre-optic network that is said to be loaded with a speed of 1 Gigabit/second, which is hundred times faster than the existing broadband services, as claimed by Google.

The Wall Street Journal further reveals that a few Google executives are pondering over the idea of airing premium television channels on Google’s YouTube sites, which could prove to be a complete transition in the cable industry and that the rival companies should be dreading this move.

But there are contrary reports too that Google actually does not have any plans of offering the TV channel service on its video broadcast service YouTube. And in fact Google is looking at developing 100 YouTube channels, which will be developed by entering into partnership with various media companies and there is also news that this plan could be launched sometime in 2012.

Well, all these news pieces seem to be tentative at the moment, and the cable TV world has to wait and watch the next concrete move by the search engine big Google.