Yet another IPTV announcement, this time from Fox:

News Corp.’s Fox network has signed a six-year agreement with its 187 affiliated stations that will let it show reruns of its television programs on the Internet, the Wall Street Journal reported on its Web site on Thursday.

The revenue-sharing agreement allows Fox to make 60 percent of its prime-time schedule available online the morning after the shows air, the Journal reported.

The formula is complex, but stations essentially will get a 12.5 percent cut after costs, the paper also reported.

It is interesting that Fox managed to convince the skeptical affiliates to allow such a deal. Fox is also smart to move away from the iTunes pay-per-download model towards an advertiser supported model.

Pretty soon this will just be the normal course of business.