Facebook Founding President Sean Parker and Napster co-founder Sean Fanning are partnering up once again to launch a new startup called Airtime.

Details are scarce but according to a fascinating interview with Forbes, Airtime is a live video site that will meet the need for real-time sharing and communication by allowing users to post videos and react to them live. Parker hopes this will, and we quote, “eliminate loneliness.”

These aren’t the first reports of a new partnership between the two technology luminaries. In April TechCrunch reported both were working together on a video focused product called SupYo with eerily similar features. Although unconfirmed, we believe Airtime is simply what SupYo has been rebranded into – we have however contacted both Parker and Fanning for comment. According to Techcrunch’s report, founder Michael Arrington is also an investor.

We aren’t able to confirm ownership of the domain, but Airtime.com appears to be where we’ll eventually see the site go live. It even has the same fade in effect as SupYo’s.

Parker and Fanning worked together in the late nineties on disruptive music startup, Napster.

Screen Shot 2011 09 22 at 00.26.30 520x539 Sean Parker and Shawn Fanning are building a new live video startup called Airtime