Business Week writes:
Niklas Zennstrom and Janus Friis, the entrepreneurs who created the pioneering Web applications Kazaa and Skype, are working on a new communications venture, BusinessWeek.com has learned. The pair plans to develop software for distributing TV shows and other forms of video over the Web, according to people familiar with the matter.
Working under the code name “The Venice Project,” Zennstrom and Friis have assembled teams of top software developers in about a half-dozen cities around the world, including New York, London, and Venice. The teams are currently in negotiations with TV networks, although it’s not clear whether any agreements have been reached.