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For those who are hotly anticipating the NewsCorp-NBC rival to YouTube, BusinessWeek puts some more pieces in the puzzle. NewsTube is being referred to as "NewCo" or "NewSite" by the execs, and in a related move, MySpace is set to launch a service in the spring that's being referred to internally as "MySpace TV". YouTube ads are coming in summer (boo!), and YouTube is also close to a licensing deal with Time-Warner.
As mentioned previously, NewsTube will be distributing the clips far and wide across the web, and they'll leave most of the consumer generated stuff to the kids on YouTube. There's even the possibility that YouTube could become a distributor for NewsTube clips, which could get interesting.