This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business News Digital Top Stories
Vevo owners no longer considering a sale
By Chris Cooke | Published on Wednesday 20 August 2014
If you were thinking of buying yourself a Vevo, but were waiting until pay day next week before making your bid, well, you missed your moment, suckers. Because Vevo ain’t for sale no more. Oh no, no more, no more, no more. Well, that’s according to the New York Post, which cites ‘sources’ and everything.
As previously reported, the current owners of the music video service, which feeds a big portion of the pop vids on YouTube as well as operating its own apps and platform, have been reviewing their options for much of the year.
Early indications were that further minority investors were being sought to provide some expansion-funding capital, but then word had it that current shareholders Sony Music, Universal Music, Google and the Abu Dhabi Media Group were toying with the idea of selling a controlling stake in the company.
But no more, people, no more. According to the Post, Vevo’s current owners now reckon that the service is likely to see significant further growth in the coming year, and that’s its non-YouTube outlets in particular will expand, and that therefore selling now won’t deliver the best return on investment. Or something like that.
