Record Labels Bought YouTube Stakes Before Google Deal

October 19, 2006 – In The News
E-Commerce Times

Three of the world's largest music companies -- Vivendi's Universal Music Group, Sony BMG Music and Warner Music Group -- reportedly negotiated stakes in YouTube as part of video- and music-licensing deals the companies struck with the media-sharing site prior to Google shelling out $1.6 billion to purchase it earlier this month. The companies collectively stand to receive as much as $50 million from the arrangements.

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