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Whipclip Debuts First App for TV Fans to Edit, Share Live Clips

Richard Rosenblatt, the entrepreneur who sold Myspace to Rupert Murdoch for $580 million, has built a new social network, Whipclip, with the first free mobile app to let viewers share and edit clips of live television shows.

Starting Thursday, fans will be able to use Whipclip to search a database of clips from networks such as Comedy Central and CBS, as well as the two largest music labels, according to the company. They can locate specific videos, and share them via text messages, e-mail, and postings on Facebook and Twitter.