“CNN is launching a user-submitted-content Website called CNN Exchange on Aug. 1,” B&C scoops. The site will aggregrate CNN’s “various user-generated sources of content” and allow users to “upload their video and pictures of breaking news and feature stories through a section called I-Reports.”

“What we’re doing with the Exchange, and I-Reports in particular, is creating a single vehicle, a simple branded environment in which people are going to be able to more consistently and easily participate in the news,” says Mitch Gelman, senior VP/executive producer for CNN.com. Look for it online tomorrow…