NBC Universal (GE) has decided to take their NBBC unit and make it part of the upcoming short- and long-form professional video site they're working together on with News Corp. (NWS-A).
NBBC had already signed on about 150 partners to aggregate their video content and distribute it online. They obviously felt there would be too much overlap with the services to keep them as separate entities.
In an email to the existing partners, NBBC announced the service was being merged into the joint venture.
“The creation of NewSite is a validation of NBBC's core mission and we at NBBC are all proud to have worked with you in creating a blueprint for the future of online-video distribution,” the e-mail said. “To facilitate the launch of NewSite, NBBC will soon be 
contributed into this new venture and will be closing its doors for business as an independent company.”
The highly-anticipated site is set to launch sometime later in 2007, and will offer videos on their own site as well as MySpace and Yahoo (YHOO), AOL (TWX) and MSN (MSFT) portals.
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