The new venture -- which will be known as the (imaginatively titled) CBS Interactive Audience Network -- is the first of its kind to offer content using the traditional network television model, i.e. ad-supported and free-of-charge to consumers.

The ten partners who have already signed with CBS include an array of major technology companies and content providers from the broadcast and online industries; they include Time Warner Inc.'s AOL, Microsoft Corp.'s MSN, Comcast Corp., NET Networks Inc., Joost, Sling Media, Veoh, Brightcove, Bebo and Netvibes. Technology will be designed by the Web maestros at Akamai Technologies.

CBS will not sign exclusive deals with any single broadband outlet. That means what viewers will hypothetically be able to watch episodes of shows like CSI or Survivor on mutiple Web sites without fear of violating copyright laws.

NBC and Fox have yet to announce details of their joint online content channel, but so far it appears that CBS is taking a significantly different approach with its non-exclusive strategy. Inudstry analysts and advertisers will be watching both ventures closely over the next few months.

The obvious loser in the equation seems to be YouTube and, quite possibly, Apple's iTunes TV store, both of which stand to lose significant viewers (and, in Apple's case, consumers) to these new outfits.

Stay tuned...