Universal Music Group, the world's largest record company, contends the wildly popular websites YouTube and MySpace are violating copyright laws by allowing users to post music videos and other content involving Universal artists.
"We believe these new businesses are copyright infringers and owe us tens of millions of US dollars," Universal Music CEO Doug Morris told investors on Wednesday at a conference in Pasadena. "How we deal with these companies will be revealed shortly."
Read more at the Sydney Morning-Herald.
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