Based on that, it looks to be a "younger, hipper" version of Bravo with a schedule entirely composed of independant content. Independant meaning "starving 'artists' that Al Gore and Hyatt didnt have to pay very much to get the broadcast rights to."
Naaaa. After looking at the longer form of their release (PDF), I'm convinced they're trying to do "Blip-Verts" (any Max Headroom fans remember that?) for the unwashed masses.