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YouTube may get into the business of producing original content. The video giant, owned by Google, is reportedly preparing to announce several partnerships with media companies and personalities to produce content, according to The Wall Street Journal.

Microsoft's official YouTube channel was hijacked on Saturday and all videos hosted on it were temporarily removed. The hacker replaced them with others claiming that Microsoft is holding a contest.

The news is surprising because for a long while now this has been a lousy economic climate to do any initial public offering.

After months of being courted by technology giants and TV signal providers, online video service Hulu is no longer for sale, its media company owners said Thursday. The Walt Disney Co., News Corp., Comcast Corp. and Providence Equity Partners had been shopping the site since June after receiving an unsolicited takeover offer.

Apple may be in talks to add streaming movie purchases to its iCloud service, but will Hollywood get onboard or stay loyal to its Ultraviolet service?

The auction of online video website Hulu LLC is chugging along, with financial advisers working to compare the various offers for the company after last week's latest bidding deadline.

Amazon.com said it struck a deal with Fox to offer online video-streaming of the company's movies and television shows.

Netflix, DreamWorks reached a multi-year deal to give Netflix exclusive rights to first-run feature films and television specials for video streaming.

The movie studio business model is poised for its biggest shift in years as Hollywood turns to Internet delivery as the only way to boost home entertainment revenues. Across Hollywood, a quiet revolution is brewing that's about to transform living rooms around the world.

Facebook is looking to hire a big-name executive to cultivate relationships and strike deals with the film and music industries to bolster its media offerings.