Three of the four largest music companies obtained a stake in YouTube before the video Web site agreed to be sold to Google Inc. for $1.67 billion, the New York Times said, citing unidentified people involved in the talks.
The agreements, which lessen the chance of music licensing-related lawsuits, may be worth $50 million to the companies.
Warner Music Group first signed an agreement with YouTube, followed by Vivendi’s Universal Music Group and Sony BMG Music Entertainment, owned by Sony Corp. and Bertelsmann AG, the newspaper said. EMI Group Plc didn’t agree to a stake in YouTube.
