Yahoo to announce a subscription video/audio streaming service:

Internet media company Yahoo Inc. will launch its most substantial subscription video service yet next week, an offering that will combine streaming coverage of news, entertainment and live sporting events, sources close to the company said on Friday.

The new service takes direct aim at RealNetworks Inc., which has nearly 1 million subscribers for its own streaming audio and video service.

....Yahoo co-founder Jerry Yang first unveiled plans for the Yahoo Platinum service at a presentation for financial analysts in mid-February. Sources close to the company said it would be available Monday for $9.95 per month.

Initial content partners for the service, designed to work over both dial-up and broadband connections, are expected to include broadcast networks Fox, ABC and CBS, and cable networks like the Discovery Channel.

A separate sports package will also be available for $16.95 per month, the sources said, offering coverage of live sporting events, including the first two rounds of the National Collegiate Athletic Association men's basketball tournament, as well as NASCAR auto racing. [Reuters]

I like Yahoo, though.