Charles Vest is President Emeritus of MIT. In this article he talks about open online content and the role of universities in the future.
He mentions his "recurring nightmare in which students all over the world are sitting in front of a box, all viewing the same lecture." I have always thought that something like this is going to happen as online learning becomes more prevalent. Of course, students need not all watch the same lecture since content can come from all sorts of places. But lesser universities might consider subscribing to lectures from prestigious ones, cutting down costs by hiring only tutors locally and getting rid of expensive lecturers. Some more well-known universities might even consider joint degrees under such an arragement, if brand dilution is not a serious problem.