Open Media: wide open

In another twist on the social network arms race, Bebo has announced Open Media, a platform of video channels offering free content from major broadcasters and other media companies.

Open Media touts a self service system allowing media companies to import their own player to their respective channel. Further, Bebo will let broadcasters keep all of the channel's ad revenue.

Broadcasters already on board include Turner, CBS, MTV, BBC, ESPN, and Sky.

The move will turn the 40 million-strong social network into what it calls, a "social media network," according to the release. Open Media will also tout social features, such as matching users who share the same entertainment tastes.

Bebo is the third largest social network stateside and the largest in the UK.