News Corp., NBC Universal and Comcast come together for Internet video distribution

News Corporation, NBC Universal and Comcast Corporation announced a comprehensive distribution agreement in which Comcast’s Comcast.net and Fancast.com will serve as key distribution sites for News Corp. and NBCU’s recently announced online video venture. Under the agreement, Comcast will also provide available non-exclusive content for domestic distribution on NBCU and News Corp’s site from Comcast Networks, including E!, Style, G4, Versus and Golf Channel and will become the venture’s first non-equity content provider.

In addition, the companies announced the new online video venture will utilize media management and video distribution technology from thePlatform, Inc., a Comcast subsidiary and a leading provider of broadband and mobile video publishing solutions.

“We’re delighted that the nation’s largest cable provider will be a major player in this new venture,” said Peter Chernin, President and Chief Operating Officer of News Corporation. “News Corp. and NBC have long histories with Comcast and we’re committed to expanding our relationship in this new media universe. We believe there is a wealth of opportunities to exploit broadband distribution to benefit both our businesses.”

“We are very excited by the positive response our new venture with News Corp. has generated,” said Jeff Zucker, President and CEO, NBC Universal. “Comcast’s participation is yet another affirmation of our strategy to place top-quality, protected content in as many places as possible.”

“We are pleased to have the best of NBC and Fox’s TV content available to our customers on Comcast.net and Fancast.com,” said Steve Burke, Chief Operating Officer, Comcast Corporation, and President of Comcast Cable. “Making TV content available on multiple devices will enable our customers to view their favorite shows on television, online and on video-on-demand.”

Distribution across Comcast sites will include Comcast.net, and Fancast.com, a new entertainment site launching this summer that will enable users to view video as well as search, discover and manage both TV and movie content.

NBC Universal and News Corporation’s recently-announced video site will launch in the summer with thousands of hours of full-length TV programming, clips and movies, representing premium content from more than a dozen networks and two major film studios. The new venture’s content will be distributed via some of the most-popular sites on the Web, including AOL, MSN, MySpace and Yahoo. The new NBCU/News Corp. joint venture will have offices in Los Angeles and New York. Permanent management and corporate branding will be announced shortly.