NBC and News Corp join forces for new video site

Media giants NBC Universal and News Corp on Thursday announced plans to pal up with AOL, MSN, Yahoo and MySpace to form an online video distribution network -- taking aim at Google's popular YouTube operation.

The video network, scheduled to debut this summer, will feature full-length programming, movies and clips from at least a dozen television networks and two major film studios.

NBC, News Corp and the others are looking to use the Web video platform as a means to attract advertisers by offering the ability to post their ads online, as well as on-air. Cisco, Intel and General Motors are among the companies that have signed up as advertisers.

The online video company, which will be based in Los Angeles and New York, is also taking aim at Google and its recently acquired YouTube, the popular user-generated video site. Yahoo, AOL, MySpace and other Internet sites are increasingly adding video content to their pages.

This a tumultuous time for YouTube. Earlier this month, entertainment giant Viacom sued Google for more than $1bn in damages, citing "massive intentional copyright infringement".

Under the NBC-News Corp agreement, partners of the online video distribution network will be able to feature the site's content on their own respective Web site, allowing them to add their own look and feel to the content's presentation.

The network distribution site will launch with such clips and full episodes as Heroes, My Name is Earl, Saturday Night Live and The Simpsons. Movies slated for the network will range from The Devil Wears Prada to The Bourne Identity and Little Miss Sunshine.

The ad-supported site will also feature video playlists, mashups, online communities and video search.

"For the first time, consumers will get what they want -- professionally produced video delivered on the sites where they live," Peter Chernin, News Corp president, said in a statement.

The new company will be headed up by a transition team, led by George Kliavkoff, NBC Universal's chief digital officer. Executives from both NBC Universal and News Corp will fill out the ranks.