PS3's long-awaited video service may debut this summer, according to the LA Times. The newspaper has been in touch with a variety of executives, who have been in negotiations over the past few weeks. Due to the "sensitivity" of continuing negotiations, the executives had to remain anonymous.

Unlike previous efforts of Sony's, the upcoming service is looking towards using "open standards" and will work on a number of computers and portable devices, PSP included. Primary competitors, such as Apple's iTunes service and Microsoft's Xbox Live Video Marketplace, both adopt fairly restrictive DRM policies.

Sony's video service has been a long time coming, as it was originally planned for PSP many years ago. However, mismanagement at the company had pretty much stalled development until recently. PS3 has been vital to the success of Blu-ray -- if implemented correctly, PS3 can be the starting point of a very successful video downloads service.

[Via Next-Gen]

This article was originally published on Joystiq.

Bethesda: There will be no demo for Fallout 3