We’ve been told that the NBCU-News Corp. JV variously known as NewCo and NewSite is in discussions with private equity firms about selling as much as a 10 percent stake in the video distribution enterprise slated to launch this summer. The goal would be $100 million for a valuation of $1 billion. I’m getting a “no comment” from NBCU on this, which could be interpreted any number of ways.

Keep in mind that Joost’s funding for $45 million is for a distribution service with a number of content deals but relying on a viral audience. NewCo says its distribution deals lock in access to 96-98 percent of U.S. internet users; it has its own content and non-equity, non-exclusive content deals so far with Comcast and CNET Networks. Selling a stake to investors is the only obvious way for the companies, currently splitting the launch costs, to raise funds other than adding another major media company as an equity partner—unlikely at this point.