If rumors are to be believed, Yahoo is planning to launch a YouTube-like online video site in the next few weeks. The key difference would be that it won't be a free, open platform for everyone, as content would be cherry-picked by the company. According to a Re/Code report, Yahoo has been working on a plan to attract YouTube stars and networks to show their stuff on the portal.

Many content producers and owners have had complaints related to their earnings on YouTube. As per the report, Yahoo is planning to take advantage of this by offering them better economics either in the form of improved ad revenue or through guaranteed ad rates for their videos. In addition to this, the company is also offering stronger marketing, including the possibility of being featured on Yahoo's home page itself, even if the video is not exclusive.

Yahoo might consider opening up the platform to everyone in the future, the report notes. While some believe that the company might develop it's own content management system, others speculate that it might just gobble up an existing service like Vimeo. Last year, the company tried to buy a controlling stake in Dailymotion, but the deal didn't go through.