Financial Times FT.com

Universal digital link with Imeem

By Joshua Chaffin in New York

Published: December 10 2007 02:00 | Last updated: December 10 2007 02:00

Universal Music, the world's largest record company, has opened a new chapter in the industry's experiment with advertising-supported music by backing Imeem, the social networking site.

After months of negotiations, the companies have concluded a deal in which Imeem will have full access to Universal's catalogue, making it the first social networking site to reach licensing agreements with each of the four big record labels.

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