MySpace is today expected to announce new video channels featuring news and lifestyle content from the likes of the New York Times and National Geographic.

News 24 reports that the branded channels will include content created for the Web and comes as MySpace, which is owned by News Corporation, is rapidly expanding its video offerings.
Video, it says, is seen as an important driver of traffic to sites such as MySpace and YouTube and different sites offering both user-generated fare and shows produced by TV networks and other professionals.
Advertisers are shifting much of their budgets from traditional network television networks to the Internet, a key issue this week as major networksin the US start the process of selling ad time for their fall shows.