3 Major Record Labels Bought Stakes in YouTube Before Google's Purchase

[mandy]

Amid heavy speculation over possible copyright issues, major record labels are vying to profit from Google's acquisition of YouTube -- as allies.

Specifically, three of the world's largest music companies -- Vivendi's Universal Music Group, Sony BMG Music and Warner Music Group -- quietly 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 US$1.6 billion to purchase it earlier this month.

Neither Google nor the record labels were immediately available for comment, but the New York Times reported that the music companies collectively stand to receive as much as $50 million from the arrangements...

full article: http://ecommercetimes.com/story/tqsgYtEi...Deal.xhtml