Google have just added video search to their lineup. It’s currently only a beta version and only indexes content from a handful of tv stations (including fox news :/). It works by searching the subtitles for your search term. Once you click on a result you can see screenshots of that program, and the subtitling from that moment in screenshot as well as times and dates the program is next on. There’s no video yet, although it looks like that will be supported in future.
Hard to see a real use for this, except for maybe trying to find out what a particular characters catchphrase is in the midst of a pub argument, or to find out what that program was that you just caught the end of. TV scheduling already covers that though, and in a better way in my opinion. No doubt google have something up their sleeves, hopefully something more exciting than text ads. The only thing I can think of is some kind of ‘google tv store’ but that seems unlikely and pretty much goes against googles other services, which are typically free to the user.