• The Wall Street Journal, Tuesday, February 20, 2007 11:02 AM

When Viacom ordered its content off YouTube, you knew it had to be planning something else. That is, something other than placing Comedy Central content on its new Comedy Central site. Viacom is set to strike a deal with the Internet video service Joost.

Joost is the brainchild of Skype founders Niklas Zennstrom and Janus Friis. Their idea is to create a video-sharing service where all television, DVD and Web content are exchanged between users. It will also add real-time social networking and chat features to make video a more interactive experience. It will be free program that sells ads to make money. Its expected release is June 30.

Viacom would be the first major TV/movie producer to sign with Joost. The deal involves licensing hundreds of hours of programming from Viacom's properties, like MTV, Comedy Central, Spike TV and Paramount Studios. Financial terms weren't discussed, but in past deals Viacom has retained two-thirds of the ad revenue. Joost's other deals include Warner Music and Endemol, the Dutch production company behind such hits as "Big Brother."

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