Vevo hires Goldman Sachs for up to $500 million capital raise: FT

(Reuters) – Online music video service Vevo has hired Goldman Sachs Group Inc to raise up to $500 million from new investors, the Financial Times reported, citing people briefed on the plans. Vevo, founded in 2009 by Universal Music Group and Sony Music, expects to raise between $300 million to $500 million for its international expansion, potential acquisitions and the development of new mobile and television services, the FT reported on Friday. Goldman Sachs declined to comment.

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