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SoundCloud is rumored to be selling the three major labels a 9 to 15% stake in the company.
The deal has yet to be announced but what is known is that this deal will make it possible for SoundCloud to continue letting its users to stream music from the major labels under licensing deals from the major labels according to Billboard.
Currently, the three major labels hold a minority stake in streaming music service Spotify, while Universal Music Group holds a 14% stake in Beats Music.
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