Joost, the ambitious online video service created by the founders of Skype and Kazaa that has lagged more well-financed rivals, is up for sale, people familiar with the matter said.

Time Warner Cable is understood to be one potential interested party, a person familiar with the discussions said, but added that a deal was “unlikely.”

The site, created by Janus Friis and Niklas Zennstrom in 2007, was once seen as the prime rival to Google’s YouTube and had attracted a range of content from big programmers including Viacom and Sony.

Sony Pictures decided not to renew its contract earlier in April and signed a deal with YouTube to offer some of its television shows and films.

Hulu, an online video site co-founded by News Corp and NBC Universal, has eclipsed Joost’s early lead and is now viewed as the primary destination for professional full-length TV shows.

Representatives for Joost and Time Warner Cable declined to comment.

The news was first reported by CNET.