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On radio this morning, Glenn formally announced GBTV to his fans. The network – a live streaming video service – will be his new home once he leaves FOX News Channel at the end of the month, and

“I believe in what I tell you every day.  I believe these things.  A lot of people in the media I’ve discovered do not.  A lot of people in the media and politics and business, but they only care about money, they only care about power, they only care about their fame.  Capitalism is not corrupt.  Capitalism is what has saved millions and millions and lives and has freed men and women and children all over the world,” Glenn told his fans.

What prompted Glenn to shift away from traditional media to his own digital network?

“We have been asked over and over again, What are we going to do?  What — what does this all mean?  How are we going to fix this?  I have not had the answer,” he explained. But now GBTV is the answer.

“This is not like anything else you’ve seen on the Internet,” he said.

The network will be the new home of Glenn’s daily show, which will expand to two hours. “It is going to launch on 9/12.  9/12/11,” he explained. “We’re going to commemorate that anniversary with the launch of a new network and a new way to do things.  GBTV will be a network that has news unlike you have seen anyplace else.”

Glenn promised that the network would be targeted at people who want to actively engage in content, and promised that there was going to be new technology coming over the summer and into next year that would allow for active engagement with viewers.

“You want to be a couch potato?  Go watch a soap opera.  If you look at life as I am busy, I want the news, I want some laughs, I want a show that won’t insult me, won’t talk down to me, I want entertainment.”

Glenn said that because viewers would need to subscribe, much like they do HBO or Netflix, that the creative people behind the shows would not be as concerned about sponsors and interference. As a result, the shows will be unique and of a higher quality than what can be found on traditional TV networks.

“We’re tired of a middleman,” Glenn explained. “This is not mass.  This is for a group of Americans that know what they believe, know where they’re headed, and want to move forward and they don’t want to waste their time.  That’s what GBTV is.”

Glenn hinted at some future programming during the announcement as well. “ GBTV will also be part of entertainment programming that will be geared towards the youth, not all of it, some of it will be.  I can’t tell you now who we’re working with, but I can tell you that we are working with some of the biggest creators or biggest names of some of the biggest action programs, also some of the biggest reality programs and some of the biggest animation that have been done in the United States.”

“We’re going to be doing education and we’re going to be partnering with people,” as well as “doing special documentaries.”

Read more about this major announcement here and get all the details on the launch event here.