NBC, News Corp. gang up against YouTube
Media giants pooling resources to create an online video site that will take on Google’s YouTube.
By Paul R. La Monica, CNNMoney.com editor at large
March 22 2007: 3:48 PM EDTNEW YORK (CNNMoney.com) — Media giants News Corp. and NBC Universal announced Thursday that they will create an online video site that will rival the popular YouTube.
News Corp. (Charts), which owns the Fox television and movie studios, and GE (Charts)-owned NBC Universal said their site will include online videos from the company’s two film and TV libraries. Executives from the two companies added during a conference call Thursday afternoon that the site will allow users to create their own videos as well.
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My take: You cannot bring down youtube just by creating an online library because that is not what youtube is all about. Youtube has a great community and it is not easy to build a community like that. (like they say – money cannnot buy you everything.)