YouTube Confirms Renewed VEVO Deal, Takes Stake In Company

YouTube confirmed that it has renewed its deal with music video distributor VEVO. Not only does the deal allow YouTube to keep VEVO's videos on its site, but it also requires Google to invest in VEVO. Though terms of the deal have not been disclosed, Billboard estimated in February that it is worth between $40 million to $50 million and would give Google a 7 percent stake in VEVO.

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