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Sony unveils streaming TV service PlayStation Vue

Chesnot | Getty Images

Sony has unveiled its PlayStation Vue streaming video service, announcing pricing, and launching in three cities—New York, Philadelphia and Chicago for PS3 and PS4 users.

Once the service rolls out nationwide—expected by the end of the year—Sony will target the roughly 35 million console owners who are at risk of cutting the cord with traditional cable TV, if they haven't already.