New York Times: In a joint venture that involves millions in up-front cash and a 50-50 split of ad revenues, Comedy Central, Matt Stone and Trey Parker have agreed to create a hub to spread South Park-related material across the Net, mobile platforms, and video games.

Guardian: Vint Cerf, the "Godfather of the Net", told an audience of media moguls that TV was rapidly approaching the same kind of crunch moment that the music industry faced with the arrival of the MP3 player.

Mediapost: More reaction from YouTubers about in-stream ads.

Hollywood Reporter: To launch their fall lineups, the major networks are turning to the Web like never before, offering viewers the chance to see premiere episodes for free and producing original content around their new series that doubles as entertainment and advertising.

Advertising Age: Google's in-video ads will only run on content from its 3,000 professional content partners and 70 independent partner channels. Considering that giant Google spent $1.6 billion for YouTube primarily for its user-generated content, that might come as a bit of a shock.

Mediapost: Pluggd, a platform for online video search and highly targeted contextual advertising, has secured $6 million in Series A financing from Intel Capital.

Guardian: Joost co-founder Janus Friis has outlined future possibilities for the web TV service including charging users, introducing adult content and never going down the "slippery slope" of splitting ad revenue with ISPs.