BitTorrent is all set to announce its highly-publicized live news network at the Republican National Convention (RNC) in Cleveland, Ohio, on July 18.

BitTorrent recently established its own TV production studio and now, the popular peer-to-peer technology firm is prepped to venture into live TV streaming. BitTorrent News, which the company describes as "a live-streaming TV news network," is slated to kickstart this month.

Apparently, the television news displayed signs of stagnation for quite some time and the younger generation dubbed it old-fashioned, citing the arrival of online media. No prizes for guessing; it struggled appealing to a generation that grew up accessing videos of YouTube and an array of other online sources without breaking a sweat.

The company hopes this will change with the debut of BitTorrent News, Christian Averill, the Vice President of Marketing for BitTorrent, Inc. noted in a post on BitTorrent Blog.

The announcement comes less than a week after the company divulged about hiring former Vice and CNN producer to spearhead the BitTorrent News streaming channel.

Harrison Bohrman, on the other hand has been roped to serve as news director, a role in which he will lead a team of six - including a trio of former Al Jazeera producers and reporters - apparently, made possible in the wake of Al Jazeera America's decision to close shop earlier this year.

Acclaimed for developing BitTorrent P2P (peer-to-peer) file-sharing protocol, the company has been restricting its association with piracy and illegal file sharing in a bid to position itself as a media distribution firm. The company launched a multichannel video-streaming app dubbed, BitTorrent Live exclusively for Apple TV in May.

BitTorrent Live later landed on OS X, with a slew of platforms to follow. It's within this app that BitTorrent News will dwell, VentureBeat reported.

The company is confident BitTorrent News will be the hub for an independent, informed voice on the news in real time as news break.

Each day during the Republican convention, the network is slated to feature about 12 hours of live coverage, with coverage of the speeches, which will be combined with comments and analysis from guests and commentary on significant developments - all in real time.

Do you think with the debut of BitTorrent's own live-streaming TV news network, other news networks, such as CNN should fear looming competition? Share your thoughts in the comments below!