It is understood that BBC Worldwide would supply the branding and content for the venture.
The two companies are expected to announce an agreement later today, when Google chief executive Eric Schmidt visits the World Economic Forum in Davos.
The deal could also stretch to the supply of content for Google Video, which offers pay-per-view and pay-per-download options. It is not yet clear how Google plans to go forward with its two online video brands.
2006 was a banner year for YouTube. The video sharing site launched in February 2005 and had claimed over 40 per cent of the online video market share by May.
Google agreed to purchase the video sharing site in October for $1.65bn in stock.
- Google closes YouTube acquisition
- YouTube takes down 29,000 videos
- Google YouTube success 'not a given'
- YouTube serving 100 million videos a day
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