YouTube challenger coming this summer?

A slew of media and tech companies are working together to take on YouTube's dominance of online video. Fox, NBC, MySpace, MSN, AOL, Yahoo and others will launch a video-sharing website this summer. They will upload their own content, including the Simpsons, Heroes, Prison Break, Saturday Night Live, films like The Devil Wears Prada, and other "premium content from at least a dozen networks and two major film studios." They'll promote the site to their massive collective user base, which makes up 96% of all web traffic, according to their press release. They claim to be in talks with Viacom, who is currently suing YouTube for copyright infringement. Said NewsCorp's COO: "This is a game changer for Internet video. We'll have access to just about the entire U.S. Internet audience at launch."