i-Caught is another example of how the Internet is influencing the “real” world. Beginning August 7, ABC is launching a newsmag for YouTubers which will feature breaking news stories and investigations, political issues, celeb sightings, and Internet hoaxes. With anchor Bill Weir, the program plans on taking original videos and some from other viral sites.

“The watershed event that changed newsgathering was the London terror attack in 2005,” said Executive Producer David Sloan. “There were people on that subway who did not know if they would live or die, but they got out their cell phones and started shooting.”

The network is looking for the juciest of clips such as Hoff’s drunken hamburger feed and Michael Richard’s tirade at The Comedy Club. We suggest before they begin airing the show that you go out with your video cam and start looking for your 15 minutes of fame since ABC is still taking submissions.