Talking about sibling rivalry -- in this case between Web sites sporting a social intent, seems MySpace is busy chalking plans to go -- yes -- the YouTube way...

What with plans this week to launch "MySpace TV", a new Web site that would put together content from professionals and amateurs alike...

No doubt the focus will likely be on professionally-created videos rather than those churned out by amateurs.

"MySpace TV" will also include television and movie clips from News Corp-owned NBC Universal and Fox.

The point worth mentioning here is that the content on the new site will be available even to those who are not registered members of the main MySpace social networking Web site.

The videos thus uploaded will be divided into groups depending on their category. What will also be taken into consideration is videos sponsored by advertisers or jointly developed along with mainstream producers.

Meanwhile, users will have the option to set-up video channels or create their very own video channels.

And for users of MySpace who proceed to upload videos on MySpace TV channels, there will be a link on their MySpace pages that will lead them to the videos on MySpace TV.

Apart from all this, MySpace also plans to introduce tools to allow users edit video clips -- something like what YouTube is currently offering its users.