I suspected that Rupert Murdoch was bluffing when he said he didn't think there was a future for video on the internet. According to the Wall Street Journal, FOX just inked a six-year deal with its 187 affiliates to play reruns on the internet. The agreement allows FOX to make 60% of its schedule available online the morning after it airs.

It's not yet clear how FOX will distribute the online video or how much it will cost and it probably will cost something because the deal gives the affiliates a 12.5% cut of the profits.