Liveblogged at Engadget.

Google’s press release says they are going to start selling…

Feature Length Independent Films from Including works by legendary Polish director Andrzej Wajda (Zemsta), documentary filmmaker Ted Bonnitt (Mau Mau Sex Sex) and independent actor/director Caveh Zahedi (In the Bathtub of the World)

…among other content like music videos, cartoons, Getty Archives clips, etc.

Launched early last year, Google Video is the first open video marketplace where any video producer, large or small, can upload their content and distribute it for free or at a price. Video prices are set by the content provider with no minimum or maximum dollar-limit. Owners also have the choice to offer their content with or without copy protection – enabling them greater control over its distribution.

UPDATE: Their video store was supposed to be launched concurrent to the CES tradeshow announcement, but is not up as of two days later. Some industry analysts are predicting Google will find this market over-crowded.