YouTube is finalizing deals with well-known personalities such as skateboarder Tony Hawk, and major media companies to produce original content for its popular website, as it seeks to become a next-generation cable provider that oversees dozens of free online "channels" with professional-grade shows. YouTube is putting $100 million into the deal, directly from cash advances to get some content produced. YouTube will recoup the funds from advertising revenue it sells against the content.

The Wall Street Journal mentions some potential partners such as: Tony Hawk, Warner Bros, News Corp's ShineReveille, FremantleMedia Ltd, BermanBraun, Electus, Everyday Health Inc, Iconic Entertainment LLC, DECA and Verso Entertainment. Oh, and, The Wall Street Journal "may produce news content for a YouTube channel".

The shows associated with some of the companies listed above include, X-Factor, Mob Wives and Ugly Betty - so we might just see similar shows produced for YouTube. Ad rates for YouTube are pretty low, which could pull advertisers away in droves from the cable-TV market.