While a bit over-simplistic, it would seem reasonable to divide MTV’s history to this point into two distinct phases: The first being the brand’s literal translation – “Music Television” – and the second being, well, “Television,” period.

Now, it seems a third phase is imminent: Hypebot has a post up exploring the details of MTV’s current attempts to “[retool] itself…to maintain relevance in the digital age.” Some highlights:

• “An embeddable video player that allows users to re-post any MTV owned content.”

• “Creation of wide variety of highly targeted loosely connected web sites that focuses on programming.”

• “High hopes for its new RealNetworks' Rhapsody relationship.”

• “A $500 million investment in [the gaming] sector.”

No word yet on our petition to bring back Say What? Karaoke. [Hypebot]