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Discovery Backs Web-Video Service With Google’s Schmidt

Former television executives Jeff Gaspin and Jon Klein are starting an online video service with backing from Discovery Communications Inc. and Google Inc. Executive Chairman Eric Schmidt.

Called Tapp, the service will feature long and short-form programs on channels tied to specific interests such as sports, politics and faith. Each channel will cost about $9.95 a month, with discounts for annual service, Gaspin, former chairman of NBCUniversal Television, and Klein, ex-U.S. president of cable news network CNN, said in a joint interview.