Tuesday, September 1, 2009

Vevo, Joint Venture Music Video Site Raising Money at $300 Million Valuation...


The JV, which is being run out of New York City (as its future HQ) and LA, has been hiring on the tech side over the last few months. It seems unlikely that the other two major labels—Warner and EMI—will join the venture as JV partners for now; Warner Music CEO Edgar Bronfman has publicly been talking against Vevo. EMI has been the slowest in any digital venture and lets others lead the way; besides, it is dealing with its own problems.

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