BREAKING: NBC and FOX Announce "You Tube Killer" Featuring Full Episodes of Popular Shows

The Wall Street Journal is reporting that NBC and FOX have joined forces to produce an on-line video site meant to rival YouTube. From the WSJ:

The companies said Thursday that distribution partners for the online content would include Yahoo Inc., Microsoft Corp.’s MSN network and Time Warner Inc.’s AOL unit. The site, which will be free, is expected to launch this summer and will carry full episodes and clips from hit shows such as “Heroes,” “The Simpsons,” “24” and “My Name Is Earl.” It will also feature movies, including “Borat.”

News Corp. and NBC said they’ve already lined up several big advertisers for the site, including Cisco, Intel and General Motors.

The partnership is a major salvo against YouTube, which has emerged as both friend and rival to traditional media companies. Google has had difficulties striking deals with the media titans, who have accused YouTube — which Google acquired last year — of benefiting from illegal use of their copyrighted material.

Free movies? What? Free? WHAT?—MEGHANN MARCO

NBC, News Corp. Plan Video Site In Challenge to Google’s YouTube (Subscription)[WSJ]