“Jackass 2.5″ will be available online for free next Wednesday, bypassing theaters altogether, in one of Viacom’s gutsiest moves to court new viewers as box office sales slip this season.

The second sequel of the Paramount and MTV Networks franchise will be available exclusively through Blockbuster’s Web site for free. Ads will run at the beginning and end of the movie.

Viewers can watch the movie, but not download it. The movie will be available on DVD by Dec. 26 and on iTunes. Blockbuster’s Movielink will offer rentals by Jan. 1.

If the test works, prepare to see studios push out more frothy kids and young adult fare online. The more likely scenario? The test will probably be a modest success and everyone can go back to doing what they’ve been doing for decades.
(WSJ) (NYTimes)

Keep an eye on:

• BusinessWeek announced it will reorganize its editorial operations and lay off dozen editorial and business staff members. (Talking Biz News)
• Murdoch May Take Three Years to Profit From Dow Jones Purchase (Bloomberg)
• Time Warner has quietly hired prominent media analyst Douglas Shapiro, of Banc of America Securities, in the weeks before Jeffrey Bewkes takes over as CEO. (NY Times)