Well, I speculated as much yesterday.

Much like how China was carved into “spheres of influence” at the end of the 19th century, YouTube may have structured a deal with Warner that may open up a similar scenario. In particular, when you look into the finer print with the Warner deal, getting an equity stake in YouTube may, in fact, be part of the deal. According to the story by Forbes:

But music industry executives say that YouTube has offered other labels an option for an equity stake in the company as part of proposed deals. If Warner took YouTube up on such an offer, it could create an expensive precedent for every other copyright holder YouTube wants to settle with.

And who might those other copyright holders be? Well, how about SonyBMG, UMG, EMI to start? (tip: Paidcontent.org)

It remains exactly how the Warner deal will be structured, but if its generous slate of copyright lawsuits (and upcoming ones) is any clue, one wonders how much of YouTube will be left after all of this.

And if YouTube IS carved up (like colonial china), one wonders what we’ll be left with. Probably something a little more sanitized, corporate and controlled. And a little less edgy, crazy, and filled the wierd and wonderful (and hoaxes) of course.

And by that time, the Internet at large will probably have moved on to something else that is.

In other YouTube News: We can add an 800lb Gorilla into the YouTube Competition Ring.  Microsoft joins NBBC, and perhaps MySpace if it ever decides to launch its own, with its own video service “Soapbox”.  With 465 million worth of visitors per month built in, I agree with Cnet: YouTube has a giant Target painted on its back, and now that Microsoft’s taking aim — this fight is going to get bloody.