04/04/2009 05:12 am ET Updated May 25, 2011

YouTube, Universal Consider Partnering For Music Video Site

Google Inc's YouTube and Universal Music Group are in talks to create a premium online music video service, sources familiar with the situation said on Wednesday.

If they reach a deal, the service could mark a significant step forward in Google's attempt to generate revenue from YouTube, which it acquired for $1.65 billion in 2006.

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