It won't be a YouTube killer but this could be an intelligent strategic move to segregate their own assets and block them from YouTube.

YouTube survives because most media companies don't have the balls to protect their own assets. By creating their own portal they can create what they can force people to the site because it has content people want to see. As long as it is free and easy to use, people will use it.

All of you haters are just clowns who don't understand how the real world works. PG is flat out wrong here.