Creating a Stage6 Alternative(repost)

The aim of this project is to recreate the DivX Stage6 platform. Similar to YouTube, the user can upload a video in any popular format (avi, xvid, mpeg etc), and the video will then be converted server-side to DivX. From this, a webpage is generated with the user's title, description, video thumbnail, rating system, and keywords. Required with this is a search engine tool. Although this is mostly an educational project, I am prepared to pay a small business price, considering the scale of this. A user login system must be implemented - preferably using an already existing "Joomla" (opensource CMS) member table. This should infact cut development time, as a signup system will not be required. Commenting the code within the project is required - as once again, this is mostly an educational project. Finally, a basic GUI will need to be implemented - extremely basic, if needs be. Once again, I am prepared to pay a small business price for this project - but please, run any numbers by me. The worst I can do is say no.