Michael Eisner, former CEO of Disney, wants to once-again be a media mogul.  His resume is amazing, of course – having developed television shows (Happy Days, Welcome Back Kotter, Barney Miller) and movies (Raiders of the Lost Ark, Saturday Night Fever, The Little Mermaid, Good Will Hunting).  He also orchestrated the turnaround of Disney during the mid 1980s.

This time, Eisner sees the next phase in media being online video. To this end, he's on the board of directors of the video-sharing site, Veoh, as well as an investor. The company recently snagged $12.5 million from investors, such as Time-Warner and Spark Capital.

But it's not without its challenges. For example, the adult entertainment company, Io Group, recently filed a copyright infringement suit again Veoh.

But, in the nascent online video space, PR is extremely important.  And, Eisner certainly understands the PR value of a high-profile lawsuit. That's something that piques interest of the public – as well as keeps a company in the spotlight.

Something else:  Eisner thinks that online video will need professional content.  This is according to a recent piece by  CNNMoney.com's Paul R. La Monica.

And, of course, that's to the benefit of traditional media companies, like Time-Warner, Viacom and so on.

After all, what catapulted the success of YouTube.com was not the home-grown user-generated content, but a pirated episode of Saturday Night Live.

In other words, according to Eisner, good story telling still matters – as it always has.