Aug. 19 (Bloomberg) -- Google Inc.’s YouTube agreed to carry clips from Time Warner Inc.’s CNN, Cartoon Network and Adult Swim in an agreement that lets the two companies share advertising sales from the online videos.

Time Warner will be able to create and program individual YouTube pages this year, the New York-based company said today in a statement. Access will be limited to U.S. users, San Bruno, California-based YouTube said today on its Web site.

YouTube, which mostly shows user-generated videos, is adding clips of TV shows and movies to attract more advertising and draw viewers away from rivals such as Hulu.com, whose owners include General Electric Co’s NBC, News Corp., and Walt Disney Co. The ads will be sold by Warner Bros. Entertainment and Turner Broadcasting System.

“There’s a lot of content coming on to the site, a lot of professional content, which is great,” Jordan Hoffner, director of YouTube partnerships, said in an interview. “To really increase our domestic presence here for both content, and monetizable content, is kind of a double-win.”

YouTube has reached similar agreements this year with Disney, CBS Corp., Sony Corp. and Metro-Goldwyn-Mayer Inc.

Time Warner, owner of the HBO and TNT cable-TV networks, rose 48 cents to $27.32 at 4 p.m. in New York Stock Exchange composite trading. The shares have gained 23 percent this year. Google, up 44 percent this year, fell $1.31 to $443.97 on the Nasdaq Stock Market.

YouTube has more than tripled the number of video views that draw revenue in the past year, Jonathan Rosenberg, senior vice president of product management, said last month. Google doesn’t break out specific revenue numbers for YouTube.

To contact the reporter on this story: Andy Fixmer in Los Angeles at afixmer@bloomberg.net; Brian Womack in San Francisco at bwomack1@bloomberg.net

Last Updated: August 19, 2009 16:16 EDT