Jeremiah Owyang has a great think piece on the idea of embedded content. [here]
The piece sums up the foundational idea that has been driving the debate I dropped my self into with regards to the NBC (or any old-tyme media network's) coverage of the Olympics. The concept of content-management by the leaders online has moved beyond the idea of control, and towards attributed sharing.
It should no longer be a world where national media entries control what you see, but rather the best media gets the highest rating. Would people in the US like to see how other nations treasure their athletes? Maybe another network will focus on Football, Swimming, Diving, etc. more than your network does, so you will chose that content, and share that with your friends/followers/groupies.
If NBC allowed people to embed the content on their own site, they still get the eyeballs (How 1999! But I heard someone use it on NPR yesterday), and the cred that goes with "Joe/Susie says this is the best content and has decided to put it up on their site".
Embedded content goes to the idea that the best content/presentation will always be the most successful. Controlling the content, as the NBC monopoly on the Olympics has pointed out, just motivates people to find ways to get other perspectives.