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Google (GOOG) and Facebook (FB) are vying to take a stake in popular music video site Vevo, the...
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Thursday, May 31, 2012, 1:00 PM ETGoogle (GOOG) and Facebook (FB) are vying to take a stake in popular music video site Vevo, the NY Post reports, with the winner likely to score a lucrative ad deal. Vevo, a JV featuring Universal, Sony (SNE), and Abu Dhabi Media, is reportedly valued at $1B on revenue of $150M. Vevo currently relies on YouTube for PC distribution, but also has popular mobile apps independent of YouTube, and has received a lift from Facebook Open Graph integration.
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