The tool will not try to aggregate the thousands of user-generated videos featuring pet tricks, skits and other antics being posted on sites such as YouTube and Revver.
Instead, it will scour about 60 Web sites from major networks such as ABC and Fox and other video portals such as AOL and Google to find network and original programming produced by major media companies.
''Everybody says, 'Who's going to be the TV Guide of online video?' and we say, 'Why shouldn't it be us?' '' said Richard Cusick, senior vice president of digital media at Gemstar-TV Guide. ''We're making a bet, but we think it's a safe bet and consistent with our mission.''
The company hopes to make money by selling ads on the new search site as well as licensing its technology.
The effort comes amid an explosion of video content on the Web. Sites such as YouTube, which is owned by Google Inc.; Revver; Grouper, which is owned by Sony Corp.; and others attract millions of visitors and feature short clips uploaded by users.
Meanwhile, TV networks and film studios are searching for new ways to distribute their content and grab the attention of online viewers.
On Thursday, NBC Universal, which is owned by General Electric Co., and News Corp., which runs the Fox network, among others, formed a joint venture to distribute their shows across the Web.
The new company will run its own Internet site and syndicate programs to such popular portals as Yahoo, MSN and AOL.
The move reinforced Gemstar's belief that Internet viewers want quick access to high-quality network shows, and there is money to be made by providing a tool to sift through such content.
TV Guide is coming late to the video-search game. The head start enjoyed by other companies, most notably Google, could be difficult to overcome, said Rob Enderle, a technology analyst.
''Today, TV Guide can be better,'' Enderle said. ''But fast-forward two years from now, and you wonder if TV Guide has the resources to compete with Google long term.''
The company hopes to learn lessons from the Web that can be applied years from now when video is delivered directly to TV sets through high-speed Internet connections.
And it hopes its electronic guide, which already is used on most TV sets and cable systems, will serve to organize both traditional TV content and Web-based shows.
The company is also planning search tools for mobile devices.