News Corp and NBC are banding together to create an online video presence that they, rather than Google, control. As I blogged when the GooTube deal was first struck, they were always in danger of intellectual property related weakness. The Los Angeles Times says:

"Hollywood has long been the king of entertainment. It believes that viewers will eventually get tired of the amateur videos that populate YouTube and other video-sharing sites, and that professionally produced material will win out."

They might be onto something.