It looks like RedLasso, the fast growing video embedding service, is ready to play a game of high-stakes brinksmanship with the networks. Last week CBS (NYSE: CBS), NBC and Fox demanded that the company stop making their content embeddable without their permission. RedLasso’s response: It will continue to make its site available for use by bloggers, even as it works toward a mutual agreement with the networks. In its defense, Red Lasso is invoking the First Amendment right of bloggers to comment on and re-purpose news clips as they see fit. How will this go over with the networks? Probably not good, and the company looks to be laying a lot on the line with its strategy. On the other hand, if the video embedding service were to pay the ultimate price, it could at least go down as a latter-day Joe Hill, remembered in blog posts, if not necessarily folk songs.

While this mess gets worked out, RedLasso is adding heft to its ranks, bringing in Michael Jordan, former Westinghouse Corporation and CBS chief executive as a senior advisor. Jordan will serve as a liason between RedLasso management and the networks. Release.

• Networks Accuse Video Sharer RedLasso Of Breaking Copyright Laws