In late May, TVNewser broke the news that outgoing Fox News host Glenn Beck would be launching a web-based TV network called GBTV later this year, after he leaves the channel. Today, Beck’s company, Mercury Radio Arts, formally announced the service.

GBTV is live at GBTV.com now, with select programming already available. Beck will take his Fox News show to GBTV starting September 12. The show will air every weekday from 5-7 PM ET, and will also be available on demand. As we reported, former FNC executive Joel Cheatwood will be in charge of programming for the web TV network.

The service will use a subscription model, so users can pay $4.95 per month for access just to Beck’s show, or $9.95 for a premium membership with access to all of the site’s programming. It will also feature advertising, providing the dual-revenue stream model that cable networks have.

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President of Mercury Radio Arts, Glenn Beck‘s multimedia production company, Christopher Balfe is named among Crain’s NY 40 Under 40. The 31-year-old quit his consulting job at Accenture in 2002 when Beck asked him to run his then-”fledgling media company.” MRA reportedly had revenues of $26 million last year. “I’m the idea guy,” Beck said. “He’s the guy who knows how to make it work.”