Will Hulu kill television?

Analyst says Hulu will wipe out television broadcasting. Analyst Laura Martin says it's cannibalizing audience from broadcast, and that's not going to change. She also says the coming switch from broadcast and cable to Internet viewing will hasten adoption of Web-based viewing and, most important, that "we don't expect the Internet audience to ever put up with as many commercials as there are on TV."

Of course, Hulu was set up by television folks who are allowing their shows to be viewed on the site, reminding me way too much of newspapers blindly giving their content to their free web sites.

What are all these shiny MBAs being taught about supply and demand, anyway?