Quick, time to start a video-sharing consulting business! That way you’d be able to reap huge billable hours in the numerous meetings and lunches that would follow if this report in the Wall Street Journal ever bears fruit, about CBS, NBC, Fox and Viacom working together to create a YouTube competitor.
Read more, and laugh or cry along with us:
The companies, owners of most of the major TV networks, envision a jointly owned site that would be the primary Web source for video content from their networks, allowing them to cash in on fast-growing Web video advertising. They also have discussed building a Web video player that could play video clips from across the Web. A deal to create a competitor remains far off, however.
While watching these titans try to jointly innovate while stabbing each other in the back could be more entertaining than their usual sitcom fare, they might (seriously) take the Google route and buy any of the budding startups in the field, and seed it with their content. Or they could just take the huge payouts Google is reportedly offering, and forget all about those copyright lawsuits.
Just in case, the Journal writers do qualify the story:
The latest round of talks could still founder.
Note from Liz: Check out this paidContent piece summarizing prior coverage of this story.