Well, well. News Corp. is getting ready to roll out its putative YouTube killer. Here’s the breathless update from the site:

The first bit of news we’d like to share is that we have a name: Hulu.

Why Hulu? Objectively, Hulu is short, easy to spell, easy to pronounce, and rhymes with itself. Subjectively, Hulu strikes us as an inherently fun name, one that captures the spirit of the service we’re building. Our hope is that Hulu will embody our (admittedly ambitious) never-ending mission, which is to help you find and enjoy the world’s premier content when, where and how you want it.

Actually, it’s basically another way of spelling ‘turkey’.

Note also the cheerful, friendly Terms and Conditions which state, in part,

You are also strictly prohibited from creating works or materials that derive from or are based on the materials contained in this Site including, without limitation, fonts, icons, link buttons, wallpaper, desktop themes, on-line postcards and greeting cards, unlicensed merchandise and mash-ups, unless you have obtained the prior written consent of Hulu or unless it is expressly permitted by this Site in each instance. This prohibition applies regardless of whether the derivative materials are sold, bartered or given away.