Vid-Biz: PS3, lg15, HD TV

Sony to Launch Video Service Through PS3; company hopes third time is the charm for piping movies and TV shows directly into the home. (The LA Times)

lonelygirl15 and KateModern Characters to Meet; crossover event kinda like the Internet’s version of when Magnum P.I. met Simon & Simon. (emailed release)

People Buying Smaller HD TVs; credit crunch has people shifting to 30- to 34-inch sets, taking a bite out of the 40- to 49-inch models. (Bits Blog)

Fix8 Adds Candidate Avatars; now you can have a web video chat as Barack Obama. (TechCrunch)

Revision3 Signs Deals with Hulu and Joost; just in time for the arrival of Veronica Belmont, new media studio expands its reach. (MediaWeek) (Disclosure: Revision3 produces the GigaOM Show.)

Rambler Media Set to Launch Rambler Cinema; video service will use Hiro Media for ads, signed content from TNT and Starmedia; holding company also owns Russia’s second largest portal. (Quintura)

Edelman Launches UGC Ad Studio; aspiring filmmakers can compete to make ads for the likes of Burger King, Expedia and Butterball. (USA Today)

t5m Enters the Online TV Network Fray

With online video being the darling of the day, it is hardly a surprise that the ranks of online video networks keep growing. t5m, a London-based company started by serial entrepreneur Charlie Muirhead, is the latest to join the likes of ON Networks, Next New Networks and DECA. (t5m stands for The Fifth Medium, we are told.)

Muirhead, who in a past life founded companies such Orchestream and Nexagent, has managed to convince a lot of heavy hitters to invest in his company. Investors include Brent Hoberman, a co-founder of lastminute.com; John Taysom, the founder of the Reuters Greenhouse Fund; and Rattan Chadha, founder of Mexx, the clothing company. t5m’s special twist on online video content is that it is “socially conscious” and will focus on content that “will inspire and entertain.” Charlie Rose meets E! Read More about t5m Enters the Online TV Network Fray