• by Gavin O'Malley  @mp_gavin, August 10, 2007

It looks like everyone wants a piece of "NewCo." Providence Equity Partners, which just invested $100 million for a 10% stake in the video venture between NBCU and News Corp. isn't the only firm that wants in, sources tell OnlineMediaDaily.

A number of other investment houses have expressed their interest in the highly anticipated venture, according to sources. But at least for the moment, neither NBCU or News Corp. are about to take on another equity partner.

Providence Equity, a media investment firm based in Rhode Island, actually sought out NBCU and News Corp., neither of which were hunting for partners in their as-yet-unnamed venture, sources say.

News of the deal, first reported Thursday by The New York Times, comes amid intense speculation over "NewCo," and whether consumers will embrace it as a major hub for long-form content online.

The investment is expected to both hasten the roll-out of the site, and ease the financial burden it is placing on both JV partners.

NBCU and News Corp. declined to comment for this story. Providence Equity did not respond to inquiries for this story.

The two partners announced their plans for "NewCo" in March, claiming then that their combined network would reach a full 96% of all Web surfers nationwide.

The venture is supposed to offer full episodes from NBC's "30 Rock" and Fox's "Prison Break," along with films from each parent company's libraries and series from various cable networks under the NBCU and News Corp. umbrellas.

The industry at large seems to be expecting big things from the venture.

"The NBC/Fox NewCo will drive a ton of money into the business," Randy Kilgore, chief revenue officer at Tremor Media, said recently during a discussion on video advertising's future.