From the press release:

Yahoo!, the premier digital media company, today announced that they have joined forces with Playtone and Reliance Entertainment to bring Tom Hanks’ multi-dimensional animated series “Electric City” to Yahoo! in 2012. As the exclusive online broadcast home for “Electric City,” Yahoo! will bring Hanks’ vision and storytelling to a global audience. Set in a futuristic society, “Electric City” is a new 90- minute action-packed sci-fi adventure series, and marks Yahoo!’s first foray into original scripted programming. “Electric City” was created by and stars Tom Hanks.

‘Electric City’ is a thought-provoking and engaging series and we are thrilled to be partnering with Playtone and Reliance Entertainment to bring Tom Hanks’ vision to the world on Yahoo! for the first time,” said Ross Levinsohn, EVP Americas, Yahoo!. “‘Electric City’ is so much more than just an online video series – it is an interactive and immersive experience from one of the world’s biggest stars and premier storytellers.

What is “Electric City”?
The world as we know it has ended and out of the rubble, the Electric City stands as a symbol of peace and security. Yet under the veneer of order lies a world full of secrets and violence. Secret police, back-alley dealings, daring chases, and murder all find a home in the “Electric City.” Through the lens of a functioning, yet dystopian metropolis, “Electric City” touches upon relevant global issues and themes including energy consumption, freedom of information, crime and punishment and more. The story unfolds gradually, layering mystery upon mystery, inviting viewers to interact with the content and each other. Metaphors and symbols are woven throughout, creating a perfect environment for puzzle-solving and community interaction. Like good science fiction, “Electric City” raises provocative questions about our own way of life and value systems. Short-form connecting storylines combined with vivid animation and a compelling score will keep audiences watching, while metaphors and a range of subject lines will keep them guessing—and reflecting.

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"Too Soon from the Cave, Too Far from the Stars"

Big names in media are now starting to seriously come to terms with the web as an alternate distribution medium.
And this project sounds like it could be pretty cool.

Of course, "indies" figured this out some years ago and have used it to great success -- even if almost all of them have remained basically an underground "sensations".

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"Reality is that which, when you stop believing in it, doesn't go away."
--PKD