The music streaming service is set to issue stakes between 3% and 5% to Universal, Sony and Warner Music as part of a licensing agreement.
Three major record labels are set to take an equity stake in Germany-based music streaming service Souncloud in return for withdrawing legal threats, Bloomberg has reported.
Universal Music, Sony Music Entertainment and Warner Music are in talks with Soundcloud over a deal that would involve them licensing their music to the service in return for stakes in the company sized between 3% and 5%, along with a share of future revenue.
The deal would value Soundcloud, which has raised more…
