Las Vegas – A dozen U.S.
broadcasters on Tuesday announced the formation of a standalone joint venture
to develop a new national mobile video content service. Parties to the venture
include Belo, Cox, Scripps, Fox (NYSE: NWS), Gannett (NYSE: GCI), Hearst, ION Television, Media
General, Meredith, NBC (NYSE: GE), Post-Newsweek and Raycom Media.
Utilizing existing
broadcast spectrum provided by Fox, NBC, Telemundo and ION that has the
capacity to reach an estimated nearly 150 million U.S. residents, the service
will allow member companies to provide content to mobile devices, including
live and on-demand video, local and national news from print and electronic
sources, as well as sports and entertainment programming.
"This initiative
offers a path for the next generation of video consumption, and will help the
FCC in its goal of ensuring efficient and reliable broadband service for US
consumers," said John Wallace, president of NBC Local Media.
The joint
venture will compete with existing mobile video content distributors like
MobiTV, which launched an iPhone application yesterday, and Qualcomm’s FLO TV.
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