Fox, Viacom, CBS and NBC Universal are discussing creating a rival to video Web site YouTube, according to a story in the Wall Street Journal‘s weekend edition.
Convinced that YouTube is making a fortune playing their content, Viacom and the owners of three of the four major networks are in talks about launching a rival to the popular video sharing Web site, a story in the Wall Street Journal says. Some of the most popular videos on YouTube are pirated copies of TV shows.
The story, written by Julie Angwin and Matthew Karnitschnig, said previous talks among the networks to create a YouTube rival stalled because they focused on putting videos on News Corp.-owned MySpace.com, a popular social networking site. NBC and Viacom were reluctant to put their videos on a TV competitor’s Web site (News Corp. owns Fox Broadcasting Co.).
News Corp., Viacom and NBC have also held discussions about filing a joint lawsuit against YouTube for copyright infringement. The companies have been reluctant, however, to do that because it would harm their relationship with Google, which acquired YouTube in October.
To read the full story, WSJ Online subscribers can click here.