EU regulators clears upcoming video service from NBC Universal and News Corp.

EU regulators clears upcoming video service from NBC Universal and News Corp.

NBC Universal and News Corp. have said that they have now received clearance from the European Regulators to launch their internet broadcasting service to challenge the domination of Google owned YouTube.com site in this segment.

The European Commission has given its approval after realizing that the new venture has no antitrust concerns. They have also not received any complaints from any of the potential rival companies.

The service is scheduled to launch sometime this summer season and would feature streaming content from NBC and News Corp.’s television and film units. This would also include media from film studios Universal Pictures and Twentieth Century Fox and television stations CNBC, Telemundo, Fox and British Sky Broadcasting.

The service could also become a major part of the News Corp’s MySpace.com social networking service.