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NBC, News Corp video venture hires CEO

Former executive tapped to lead NewCo.

The video venture created by media conglomerates News Corp and NBC Universal finally has a leader.

The tentatively named NewCo has hired Jason Kilar, a longtime former executive as CEO. Kilar is credited with helping form Amazon's video and DVD strategy during his 10 years at the company.

NewCo will distribute full-length movies and clips from at least a dozen television networks and two major film studios over the Web, including at three of the Web's largest Internet portals, AOL, MSN and Yahoo. Some of those contributing content, besides NBC and Fox include Comcast, MySpace and CNET Networks, parent company of and Webware. reported last month that NewCo has is trying to sell 10 percent of the company for $100 million, which means the company is valuing itself at $1 billion.

Now if only the company can come up with a name.