Apparently it is run by Frontier Communications - I first learned of it when I saw it on my telephone bill as a $0.00 charge. This started in either December or January.
Anyway, from what I've read they plan on trying to be the go-to site for TV shows, consolidating Hulu and Amazon Prime. 90% of the content will be free but ad supported, the rest will be pay. Apparently they already have over a million videos.
It's interesting but I'm not sitting in front of my computer to watch TV shows. They really need a Roku channel.