Certainly the $74 billion TV ad market will attract google, now that the internet giant company have most of its revenue from advertising. We know that Google have already aquired a radio advertising firm and now the focus will be on TV, the concept is certainly very interesting but how to achieve it that the big question. In the google jobs you can find many open jobs for Software Engineer, Television Technology. Google CEO Eric Schmidt have confirmed their plans :
googletv.jpg

we are in the search business, so we need all of the information. We want to partner with people to get information so our search end users can see it.
We’re also in the advertising business, and we’d like to provide advertising services to people who have their own proprietary content. So depending on where we are in that spectrum, we either do an advertising deal or a content deal or a hybrid deal.
But ultimately our goal at Google is to have the strongest advertising network and all the world’s information, that’s part of our mission.

Source Slashdot & ZDNET blog