A very happy Brightcove announced today that is has signed a major deal with Fox Entertainment Group to make its range of Internet TV services available to all Fox properties. Each Fox network and studio will use Brightcove to program and host ad-supported Internet video channels and targeted consumer media campaigns.

This raises several questions around Fox's intentions with their existing programming viewable on MySpace and their partnership with NBC Universal to create the largest Internet video distribution network.

The first Fox properties to utilize Brightcove to launch an Internet video initiative will be FX Networks, SPEED and Fox Broadcasting Company. Each network will manage its own monetization strategy through the Brightcove Internet TV service.

Brightcove's services will also allow Fox properties to expand the reach of programming through managed syndication to select website affiliates and viral promotion through social media features. The services can also harness the power of user-generated content and consumer video sharing; using Brightcove, Fox properties can recruit and review fan-submitted videos and add them to the programmed video content featured on their individual network and studio Web sites.