In April Universal and YouTube announced that they are teaming up on a music video website project coined Vevo.  Today Sony Music Entertainment joined the Vevo venture.  Vevo will be launching later this year.

Between Universal and Sony, they represent artists such as Alicia Keys, Eminem, AC/DC, Lady Gaga, Akon, The Killers, The Black Eyed Peas, etc.  Warner Music and EMI have not yet planned on signing to Vevo yet.  Vevo will have music videos and possibly reality shows.

YouTube will handle the back-end of Vevo and the music labels will provide the music videos.  The President of Vevo will most likely be Universal Music executive Rio Caraeffas.

[via CNET]