Old Media Companies Plot to Compete with YouTube
STEVE INSKEEP, host:
On Mondays we focus on technology, and today a possible rival to YouTube. Four major media corporations are reported to be talking about joining forces to create a video site to compete with the top video-sharing Web site, YouTube. Fox, Viacom, CBS and NBC have been meeting on the subject since the beginning of the year, according to the Wall Street Journal.
Google purchased YouTube this fall for more than $1.6 billion in stock.
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