The Times story says that Universal — the one that was threatening the loudest about suing YouTube before the deal was done — as well as Sony BMG and Warner Music all received a stake that is now worth about $50-million as a result of the Google acquisition. Only EMI has not done a deal with YouTube (at least not yet). Edgar Bronfman Jr.’s Warner was reportedly the first one to approach the company about taking a stake.
That looks pretty darn smart right now. That $50-million stake could pay for an awful lot of artists’ fees, or lawyers’ fees, or encouragement for new artists — or country club memberships for record executives. Whatever.