Convergence of Mainstream Media and Online Video Continues

The convergence of mainstream media and online video continues....

Red Herring reports that Veoh Networks, San Diego-based video start-up, raised $12.5 million in second-round financing from Michael Eisner, the former chairman of the Disney Company, Time Warner, and Spark Capital. Eisner will only also have a seat on Veoh's board.

NBC announced Wednesday the formation of The National Broadband Company, a joint venture between NBC and its 213 affiliates. The new company will develop ways to monetize video aggregated from NBC’s affiliates, NBC’s library, or user-created content through syndication or through a portal on the Web.