We wondered whether UMG would have much luck signing rival major labels up to its VEVO video site… Well, they’ve now got Sony Music.The major label has confirmed it will be part of the service – which is being powered by YouTube – when it launches later this year. Sony has taken an undisclosed equity stake in the venture. The Financial Times reports that VEVO is looking for outside investment from advertisers and brand-owners who may be interested in taking an equity stake too.The article suggests that Warner Music and EMI are still mulling over their options, with online TV site Hulu a possible alternative. The latter is reported to be in negotiations with several labels to add their videos to its service.
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