First Yahoo announced an online talent show, now MySpace and TBS have partnered to produce a video contest focusing on stand-up comedy.

The promotion is called "The Stand-Up or Sit Down Comedy Challenge", and aspiring comics will compete for a $50,000 prize by submitting videos of their performances for MySpace users to rate. The five finalists will be invited to appear in a one-hour special hosted by comedian George Lopez and filmed at The Comedy Festival in Las Vegas, which will broadcast on TBS on Nov. 17, MediaPost reports.

After the show, viewers can go to the promotion's MySpace page and vote on the finalists. The winner will be announced during TBS's simulcast of the Comic Relief 2006 special the next night. The winner gets $50,000 in cash and other prizes, along with a development deal that involves pitching show ideas to TBS. The winner could eventually land a series with TBS.