YouTube has launched a new service that focuses on local news.  At the URL YouTube.com/news, YouTube has a service called News Near You that pulls video clips that are within a 100 mile radius from your IP address location.  YouTube insists that this new service will be a boon for local news companies because they plan to share ad revenue with them.

However news companies may be skeptical because this same service could inevitably take people away from the TV.  News agencies make a substantial amount of their revenues from money earned from advertising on TV.

There are about 200 news outlet companies that currently are posting news packages on the website and are splitting the revenue with Google.

[via NYT]

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