Om Malik hit the nail on the head with this comment:
It is my belief that these companies are in the business of content, not distribution. Offering their content on their own properties may give them a lift in terms of page views, but at the same time they also run the risk of losing the audience that simply seeks out such content on sites such as YouTube.
I have to be honest that I seriously liked his reference to CBS.
I first mentioned this last April: CBS totally gets it!:
CBS has made a major announcement on how they plan to distribute their content through every conceivable Internet outlet (except Google). If you want a glimpse of where the world is headed this is it. This is the come-to-me Web at its best. If you are a content creator you should seriously consider borrowing heavily from this CBS strategy.
Anyone care to venture to guess how I voted?