Sources “in the know” report that Google is planning a major overhaul of YouTube. Apparently to compete with companies like Hulu and Netflix, as well as cable and network television, Google hopes that an offering of “channels” and live streaming of original “professionally produced programming” will entice viewers to stay on the site for longer periods of time. They hope that people will “watch YouTube” just like they “watch TV”. These changes are expected to occur over an extended period of time, with the first steps starting before the end of the year. Read more here.