Saturday, October 21, 2006

Major record labels take small stakes in YouTube

copyright Brand Republic
by Staff
published October 19, 2006

NEW YORK - Three major music companies have bought small stakes in YouTube, in a further sign that threats of legal action for copyright violation of music videos may be avoided.

Universal Music Group, Sony BMG Music and the Warner Music Group have each bought small into the video sharing site, according to a report in The New York Times.

The paper says that the deals were struck before YouTube's acquisition by Google for $1.65bn (£883m) was announced.



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