While it’s yet-to-be confirmed, TechCrunch reports that News Corp. and NBC’s joint venture, Hulu, has made its first acquisition: Bejing-based startup Mojiti. It’s thought that Mojiti, an online video platform that enables users to annotate videos at specific time points (while also forming the basis for search functionality) will provide a part of the technology used to power Hulu. Mojiti founder, Eric Feng, was previously at Microsoft Research Asia.

TechCrunch editor, Mike Arrington, expresses surprise that Hulu would go outside for some of its core technology, while conceding that, having missed their previously announced launch date of summer 2007, an acquisition could get things back on track.

Veoh, the company behind the video sharing site of the same name, as well as the Internet TV app, VoehTV (see our review), have announced a new set of funders. Joining ex-Disney CEO, Michael Eisner, along with Shelter Capital Partners, Spark Capital, and Time Warner Investments, Veoh’s backers now also include former Viacom and MTV Networks CEO Tom Freston’s Firefly3 and Jonathan Dolgen, former Chairman and Chief Executive Officer of Viacom Entertainment Group.

That’s a pretty heavyweight media lineup, with plenty of Hollowood/TV network connections, which, moving forward, is likely to be a prerequisite for companies in the Internet TV space whose success will in part be based on their ability to secure major content deals. In this respect, VeohTV competitor, Joost, looks particularly well placed with backing from CBS and Viacom.

The good news: Major U.S. television networks continue to embrace Internet technology and are putting their shows on the Web for online viewing, just like they did last year.

The bad news: Their online offerings remain sporadic; their Internet strategies feel like “we have to” rather than “we want to”; and — worst of all — they still haven’t embraced the idea that we are living in a new digital world, with different rules, participants, and expectations all around.

We’ve looked at the online offerings of the five major networks — ABC, CBS, NBC, Fox, and The CW — and sadly no one is blowing the game wide open, although they’re trying. To their credit, the networks are offering some of their top-rated shows online, viewable on their own websites.

But to their discredit, the networks don’t provide streaming for all of their shows, prime time or not, and streaming schedules vary widely. While video quality continues to improve, many networks have crowded and difficult to use interfaces, which detracts from the fun of watching a favorite TV show. Sometimes it’s just not worth the effort.

Here’s our journey through the land of network streaming.

The Sunday Times reports that Microsoft has been in talks with the BBC along with “several other European media companies” as it gears up for the European launch of its XBox Live Video Marketplace.

Ross Honey, senior director for media at Microsoft’s content and partner strategy group, is quoted describing the BBC as a “great content provider” and says that Microsoft is “working diligently on multiple fronts to make it happen.” The BBC’s growing library of high-definition content, such as the award-winning Planet Earth series, makes it a good fit for the XBox 360’s HD video capabilities.