I hate to say I told you so, but, well, I did.

So sayeth this article in the Wall Street Journal,

Four major media companies, including News Corp.’s Fox, Viacom Inc., CBS Corp. and General Electric Co.’s NBC Universal, are in talks about creating a video Web site to compete with Google Inc.’s YouTube, according to people close to the situation.

And who could blame them? The notion may seem insurmountable to all of us here in the echo chamber but Internet video is in its infancy – why on earth would any right-minded network hand it all over to Google without at least giving a competitive strategy a good ol’ college try?

Somebody’s going to lose a whole lot of money over this one.

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