Yeah, something like that. Looks like nothing is confirmed yet for sure, though.
TV-Out is pretty much the deciding factor on whether I get this over the new iPad.
Edit: I just may have found an answer:
http://www.washingtonpost.com/business/technology/nexus-7-review/2012/06/29/gJQAZWieBW_story_1.html
Some guy said this:
Apparently, the Nexus 7 *cannot* do video out. There is no hdmi port, and several reporters have heard from inside sources that the Nexus 7 does not support MHL. MHL enables the micro-USB port on some devices to become HDMI out among other things. Maybe the MHL circuitry is there, but neither ASUS nor Goole have said so after being repeatedly questioned, and apparently Jelly Bean does not even support MHL even if it were in the hardware.
Something similar is true for USB memory. The Nexus 7 does support USB-OTG (On The Go), but it doesn't all of OTG. The Nexus 7 cannot use USB storage, nothing. Not even a USB thumb drive will work according to all the reports.
And to drive a nail in the coffin, Jelly bean does not support Adobe Flash and seemingly never will.
Just do a search for the keywords of MHL "Nexus 7", OTG "Nexus 7", "jelly bean" flash to verify what I am saying. Unless google and ASUS mis-fired on the launch, the Nexus 7 is terrible for anyone wanting to show the image on a big screen. Such a feature would have been a perfect addition to this 7" tablet. As it is now, you need a DLNA-equipped TV or another device that has both DLNA and video out capability. That is what the Nexus 7 should have been.
The acer iconia A110, on the other hand, runs ICS, so it has Adobe Flash; it has a dedicated micro-hdmi out port, it has standard USB-OTG, it has a micro-SD card slot built-in, and it is also projected to cost $200. Its only drawbacks appear to be a slightly lower resolution screen (perceptible in reading an eBook???), and the A110 doesn't have NFC built in. If it has a mini PCIe slot inside, though, you could add NFC or 3g/4g, etc.