Report: Viacom Backs Out Of Networks' Internet Video Site Plan

Late TUESDAY, BROADCASTING AND CABLE magazine reported that the new YOUTUBE competitor proposed by a consortium of NBC UNIVERSAL, VIACOM, CBS CORP., and NEWS CORP may be in trouble as VIACOM has backed out of the venture. The magazine cites "multiple sources" for the report. The networks were said to be talking about jointly forming an Internet video portal to combat YOUTUBE, although DISNEY/ABC was not part of the talks.

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