by Angela Nazworth | June 1, 2012 1:45 pm
YouTube’s partner channel, Vevo, is on the radar of both Google‘s (NASDAQ:GOOG) Larry Page and Facebook‘s (NASDAQ:FB) Mark Zuckerberg, according to The New York Post. Both companies reportedly have met with Vevo about buying an equity stake in the company. Currently, Vevo has an exclusive ad-revenue sharing deal with YouTube that ends this year.
NYP sources say Vevo — the web’s equivalent of MTV — is valued at close to $1 billion. The music video platform is owned by Sony‘s (NYSE:SNE) music arm, Universal Music Group and Abu Dhabi Media.
“The deal with YouTube is done at the end of the year,” a source familiar with the talks told NYP. “Between now and then, we want to explore all the possibilities.”
Speaking of possibilities, it’s also been reported that Vevo has hired investment bank Allen & Co. to explore options such as going public, selling or welcoming a new investor.
Source URL: http://investorplace.com/2012/06/vevo-might-jump-youtube-ship-land-with-facebook-or-google/
Short URL: http://invstplc.com/1ftI08u
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.