JoostTeam

Summary of press release:

New York, March 22, 2007 – News Corporation and NBC Universal will launch the largest Internet video distribution network ever assembled with the most sought-after content from television and film, it was announced today by Jeff Zucker, President and Chief Executive Officer, NBC Universal and Peter Chernin, President and Chief Operating Officer, News Corporation. AOL, MSN, MySpace and Yahoo! will be the new site’s initial distribution partners. This media alliance will offer consumers free long- and short-form video and create a compelling platform for advertisers, targeting the rapidly growing audience of online video consumers. “This venture supercharges our distribution of protected, quality content to fans everywhere. Post-launch, plans will be considered for acquiring additional content as well as producing and licensing original programming for the new site’s audience.

“By delivering the new site’s content to our more than 65 million users, we can build on MySpace’s position as a leading destination for online video, and enable content creators to tap into the power of social networking,” said Peter Levinsohn, President of Fox Interactive Media. Each distribution partner will feature the site’s content in an embedded player customized with a look and feel consistent with each site, making the offering organic to each destination. Post-launch, sites affiliated with founding companies, including iVillage and IGN, will also have the opportunity to become distribution partners.

News Corporation and NBC Universal are creating this strategic alliance at a time when Internet users and advertisers are embracing online video as never before. In January, there were 123 million unique video streamers and downloaders (comScore Video Metrix).