News of a multiple media company platform to rival YouTube has been spinning in recent months, and according to the Hollywood Reporter, News Corp. is now in very active negotiations with all the media companies to champion that cause.

"There's certainly an opportunity for the media companies to get together," said Peter Levinsohn, president of Fox Interactive Media. "Myspace will be a huge beneficiary of that."

The plans come days after Fox took steps to place its own programming on the MySpace site and contradicts News Corp. Chief Rupert Murdoch's dismissive attitude toward YouTube at the McGraw Hill 2007 Media Summit.

The need for competition is certainly alive, and now seems a prudent time after YouTube gleaned for big media participation following the Viacom fiasco, and also after losing the confidence of the IAC. The control MySpace offers to media companies is simply unparalleled, which must be a scary thought to Google, which owns YouTube. The battle is not lost however, with YouTube still enjoying unprecedented popularity.