YouTube for TV?

YouTube is considering creating a linear TV channel compiled from the video clips submitted by its users. Speaking at the Consumer Electronics Show in Las Vegas last week, the vice-president of content, Kevin Donahue, said the company had been considering the idea of creating TV shows and might even extend that into a full channel.
CBS has already set up a video competition that will be hosted by YouTube. The five best entries will be chosen every two weeks to run on, and will later be broadcast on national TV. More information can be found in the U.K. Media Guardian here.