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Reuters reports that YouTube may soon host ad-sponsored content from Metro-Goldwyn-Mayer (MGM) and that a formal announcement might come today.

That's the good news. The bad news is the initial offering from the two companies is expected to be American Gladiator episodes. Eventually, MGM movies, including Bulletproof Monk, The Magnificent Seven, and Legally Blonde will be available, as well.

Reuters states that all content will be "free" as in ad supported.

A large percentage of MGM's catalog is available via the iTunes Store.

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