WHy Wouldn't a Big Media YouTube Killer Work?

Or at least, since Google doesn't have a clue yet how to make money on YouTube, why can't the media companies (whose content built up YouTube) get the chance to try to figure it out on their own?
Heather Green

There is plenty of skepticism about why a YouTube killer created by the media companies won't work, but I so far I haven't heard any arguments that are convincing. Of course there is the easy knock, which says that those money grubbing Hollywood guys, they can never pull this together. That's an easy jab, doesn't make sense to me.

Another is that they should let all their content be out, let people discover it for free with advertising. I think they're actually already starting to do that, right? By creating a YouTube Killer it doesn't sound like they're pulling back from trying all kinds of different methods of distribution.

What they seem to be doing is saying, we would like money, but we don't want to take money from Google simply so that Google can figure out the model here and we won't sue them. Maybe if Google had a better offer than, trust us, let us lock up your lawsuits and we'll figure this out, they would be more willing. But we're at the very beginning of the media race. Why shouldn't the media companies have a hand in figuring it out themselves?