News: NBC & FOX Develop Alternative to YouTube

After seven months of negotiations, the deal got done after all. News Corp. and NBC Universal announced a partnership for the digital age yesterday, planning a new jointly-run entertainment portal - as yet unnamed - that will aggregate the biggest collection of TV content on the web and create "the largest advertising platform on earth." The agreement will encompass the vast libraries of television and film content from each of the companies' broadcast, cable and film brands. The deal also contains a distribution component that will make video content available across the leading portals of the net AOL, MSN, Yahoo and MySpace, who will share in the ad revenue and customize its delivery as they see fit.