YouTube, Time Warner in video clips pact with CNN, TNT

Media and entertainment giant Time Warner Inc, yesterday signed an agreement with online video site YouTube, owned by internet giant Google, for hosting content from its television shows and movies in exchange for a share of advertising revenue.

Under the agreement, YouTube will host Time Warner's short clips of news from CNN, Cartoon Network, TNT's movies and dramas, Adult Swim animated shows and its television daytime talk shows like 'Gossip Girl' and 'Ellen DeGeneres'.

YouTube would host Time Warner's "high-quality, short-form content'' but not complete episodes of television shows or movies, said Time Warner.

However, another upcoming online video website, Hulu, had signed pacts this year with three major US broadcast television networks- FOX, NBC and Universal to show viewers full-length television episodes and movies.

Neither, Time Warner or YouTube disclosed the financial terms of the agreement but both companies would share advertising revenue.

Under the agreement, videos from Time Warner properties will appear on YouTube and across Google's product suite. Clips will include advertising, with time sold by Warner Brothers Entertainment and Turner Broadcasting System.