YouTube Rival?

Have you already heard about the YouTube competitor being created by NBC Universal and News Corp? A few excerpts:

“NEW YORK - NBC Universal and News Corp. joined forces with several Internet companies Thursday to distribute TV shows online in an effort to better control their programming and stave off competition from YouTube.”

And

“Programs owned by NBC and News Corp. such as "Heroes," "24," and "House" will appear on the network, supported by advertising, and distributed through Yahoo, Time Warner Inc.'s AOL unit, Microsoft Corp.'s MSN site, and MySpace, which is owned by News Corp.”