Universal Music Group, Sony Music, Google and Abu Dhabi Media are considering a sale of Vevo, the music video streaming platform launched in 2009, according a report from Bloomberg. The company is said to be mulling bringing on Goldman Sachs to oversee the sale, according to three sources contacted by Bloomberg.
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Earlier this month it was revealed that DreamWorks Animation was possibly interested in acquiring a stake in Vevo. Guggenheim Digital Media, parent company to Billboard, was also reportedly exploring taking a piece of the company. Bloomberg reports that Liberty Media Corp. is also involved in the discussions.
Google, through YouTube, owns a 7% stake in the company through an investment and distribution deal signed last year. Abu Dhabi is said to own a smaller stake, with the majority of ownership being held by UMG and Sony Music.
Vevo CEO Rio Caraeff touted the company's recent performance during a talk last week at the Billboard Latin Music Conference in Miami, saying monthly views were up 1.5 billion over the previous year, with 80% of those coming from outside the U.S.