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Both. But be sure to hold on to something unique for yourself, otherwise you're selling the same content to people who can run a site better than you probably can, which will probably result in not a lot of sales for you.
I stopped selling content a while ago and I never sold all of the rights when I did. Found it was easier to do partnerships with larger programs, then make a few small sites on my own on top of that, in addition to other forms of distribution for my content (DVD, broadcast, VOD, and so on). This way there were a few different income sources from your content rather than just trying to chip away at one little site. Can't say all of the partnerships always worked out well, but while they lasted most of them made OK money.
Whatever you do, you don't want to get yourself into a situation where you are forced to live off the tit of a few clients. Control what you own, whatever you are going to do, and you'll be OK.
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