Create multiple sites using the same content

Here's the scenario:

- A company has a website
- The company's clients would like to have their own version of the website with identical content but branded as they wish
- Each client's website would have its own domain

Is it possible to run multisite in this way? E.g. by creating a site as the primary blog and then allowing all sub-blogs to use the same content?

Grateful for your thoughts.