The show, whose creators and actors was kept secret for some time, will have its final installment shown episodes about 1 to 4 minutes in length that "chronicle the ensemble cast on their quest to find their missing friend." The show's second season will debut next Monday on MySpaceTV as well as other online distributors. From the release:

"With more than 115 million potential friends on MySpace, LonelyGirl won’t be lonely any more,” said Jeff Berman, GM of MySpaceTV. “By joining Sony Minisodes, Prom Queen, and all of our branded channel partners coming online this month, LonelyGirl will be in good company on MySpaceTV.” ...

“We’re thrilled to give LonelyGirl15 the global platform it deserves via MySpaceTV,” said Greg Goodfried, co-creator and producer of LonelyGirl15. “The artistic concept of LonelyGirl15 is that the characters are real, live in the real world, and interact with the fans,” added Miles Beckett, co-creator and producer of LonelyGirl15. “We expect MySpace users to welcome the show with open arms.”

MySpaceTV will create a branded LonelyGirl15 video community where fans can subscribe, get alerts when new content is posted, watch all 245 previous and new episodes, and discuss the series with other fans through a comment function.

NewTeeVee calls the deal "remarkable" because ofthe way it allows LonelyGir'l's creators to retain the rights to their work as well as creative control:

Some independent online video makers have complained about what they’ve lost by choosing a site (generally YouTube) to host their content. Sure, they build an early audience and tie into a network of creators and watchers, but they don’t own those viewers and it’s difficult to port them elsewhere. Meanwhile, their video host builds its own traffic and revenue/valuation on the back of their good video. The solution, and an increasingly common choice, is to set up your own domain and try to drive all your watchers to it.

Now the inverse is happening. The Lonelygirl team has established the show as a hit and its official site as a hub of collaboration and interactivity, so it can move back out into the rest of the web, with portals fighting for the right to distribute its content.

CNET's Caroline McCarthy writes that the deal may be "an indicator that perhaps we should be thinking about online video hubs as networks rather than just platforms. Perhaps we'll soon be saying, 'Oh, it's on MySpaceTV' or 'You can catch it on YouTube' instead of talking about whether a program is on NBC or Fox."