(18 March 2008 2:00 pm)

MUMBAI: NBC Universal has paid $6 million for a 35 per cent stake in DriverTV, a company that produces and distributes auto-related video content.

Under that agreement, DriverTV content will be on MySpace within the next couple of weeks.

The move is an attempt by NBC to follow advertisers as they shift from television to online.

DriverTV will be the centerpiece of the new NBCU Auto Network which initially will include NBC.com and News Corp.'s MySpace, which has entered a separate deal with DriverTV.

According to reports, the company is also in talks with other web distribution sites for similar such deals.

Multiplatform content firm Radical Media will continue to provide production and creative services to DriverTV.

Founded in 2005, DriverTV specializes in producing three-minute promotional videos that showcase a vehicle's interior and exterior. Along with NBCU, the company will also look to produce new short and long form content.

DriverTV's content is available as a VOD channel through distribution agreements with Comcast, Time Warner Cable, Cox, Charter, Insight and the Hotel Network.