Google's YouTube News Near You... Local Radio Competitor or Opportunity?

The New York Times recently called attention to a new feature in YouTube called "News Near You." Tom Taylor, in his Tuesday, August 4th edition of Taylor on Radio, led the top story in his newsletter with:

Just when you thought radio couldn’t get any more competition…Google shows up again, with a new service named “News Near You.”

It strikes me, as opposed to being competition for radio, it's an opportunity to develop a station's news image using someone else's money. A station could cover a local story - say, an exciting city council meeting - and post the video on YouTube, free. They, embed the YouTube video in their website, providing listeners with an enhanced news story, with no video hosting costs to the station. And, here's where it really gets cool. When someone is looking for local stories on YouTube, there are your station's news stories, right there with the TV affiliates and so on.

So - another case of where there seems to be competition, there really is opportunity in new media.