Dust off your video scripts… CBS has a few hundred million bucks burning a whole in their pinstriped pockets… and they’re on the prowl.

CBS Corp has announced that they are interested in spotting the next big phenomenon in user-generated programming over the Internet, not buying market leader YouTube, Chief Executive Leslie Moonves said on Thursday.

“It is obviously phenomenally successful,” Moonves said of YouTube. “I doubt we would buy it at this point. Maybe we would look for the next YouTube, the next great idea that’s not spread across the world.”

So think you’ve got the next big MyTubeSpaceBook and thinking about retirement? Give them a call. Just remember to remove those downloadable episodes of Survivor before taking them on the tour of your site. Never know what might set those corporate types off.