Several Big Media companies are joining together to compete with YouTube, the video-sharing service now owned by Google. Murdoch’s News Corp and NBC Universal said they will create an online video site stocked with TV shows and movies, plus clips that users can modify and share with friends.
Rather than fight YouTube in court, such as Viacom threatens to do, the two companies plsn to offer not just a video-sharing service, but also add original content. News Corp. will bring its popular social networking site My Space into the equation, which should help driving traffic to the new site.
The new partnership hopes to reach even mnore eyeballs through deals with Yahoo, Microsoft’s MSN and Time Warner Inc’s AOL. By offering original movies and series content the new venture will also be in competition with Apple’s iTunes and TiVo Unbox.