Reginal Thomas
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SoundCloud Close To A Deal With Major Record Labels To Play Their Songs

The popular music sharing service. SoundCloud Ltd is close to a deal with major record labels Universal Music Group, Song Music Entertainment, and Warner Music Group for licenses that would allow it to continue playing songs owned by the labels avoiding any potential legal problems in the future. In return SoundCloud is offering a 3 to 5% stake to the labels plus a percentage of future revenue. If the deal goes through SoundCloud could be valued somewhere between $500-$600 million.