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Ars Technica: News Corp. and NBC announce partnership to create YouTube competitor

If I were writing the headline, it would have been something like, "News Corp. and NBC announce plans to spend a huge amount of money on a site that will quietly disappear six months after launch." Or something like that.

My favorite quote:

This is a game changer for Internet video. We'll have access to just about the entire U.S. Internet audience at launch. [...]" said News Corp.'s President and COO Peter Chernin in a statement.

Just about? What am I missing? Some of these people aren't connected to the series of tubes?