Woke up this morning to find overnight there had been a fascinating contretemps brewing between two very cool web sites, both of which I’m a big fan of*.

In the blue corner, replete with Raccoon, is Seesmic, run by the ever smiling French New Media Guru and founder of Le Web, Loic Le Meur.

In the red corner (with white flashes) is Phreadz, developed by the one man dynamo and all round top chap,  Kosso.

Rather than explain it all (as it’s quite complicated) Christian (aka Documentally) interviewed Kosso about the situation over on Qik.com – watch it now!

As Christian and Deek point out in the video, I think the whole situation has ramifications for bloggers, filmmakers and musicians that extends beyond two web sites having a bit of a barney, it’s about ownership of content on the web.

Hopefully, the situation as it stands will resolve itself amicably. As Kosso points out the two companies have different agendas, there is plenty of space on the web for both sites without the need for fisticuffs.

It’ll be interesting to see how it all pans out.

* OK, if I’m honest, I’m a complete Phreadle, but I’ve always loved Seesmic’s style.