For some time, proponents of telco television have been at pains to point out that IPTV is not internet television but simply uses internet protocols to deliver television over managed networks. In so doing they have been falling over themselves to reinvent cable television. Meanwhile, it seems that the main innovations in interactive television are emerging from the internet. The real breakthrough may come in a convergence of broadcast and broadband networks. It may not be the internet on television or television on the internet, but a blend of both. The challenge is to understand what that would look like.