SoundCloud would appear to be on the verge of cutting three of the largest record labels a deal to avoid being taken to court for copyright violations. The Times is reporting negotiations are near
completion and Universal Music, Sony Music and Warner Music will be given between 3 to 5 per cent of the company and a percentage of future revenue. This would give the company a value of around $500m
to $600m.
Read the whole story at The Times »