Media Giants Mull Creation of Rival to YouTube

NEW YORK, December 11: According to The Wall Street Journal, News Corporation, Viacom, CBS Corporation and NBC
Universal are in discussions to create a content website to compete against the
Google-owned YouTube.

The Journal indicates
that the site would stream content from all of the companies, on an
ad-supported basis. The discussions have also centered around the creation of a
video player that would allow users to play content from elsewhere on the
Internet.

YouTube, meanwhile, is said to be anxious to beef up its
offerings, reportedly offering to pay News Corp. $140 million for the next
three years in order to add FOX content to its site.