UMG, OMG!! The Major Music Group Enters Brave New World of Online Social Media Sites

Forget Facebook. Forget MySpace. Forget Friendster. (What, you've already forgotten Friendster???) I'm not telling you this because I want you to ignore the drunken messages I sent you last night. I'm telling you because your favorite major music conglomerate Universal Music Group has teamed up with Buzznet to bring you the most amazing, most exciting, most music-y new online social media content EVER.

Now, word on the street (or Billboard magazine, whatever you wanna hear) is that Buzznet has been kickin' it with a slew of new investors and partners. But, if you're like me, the only one you will really care about is this budding relationship with Universal. It's like this: Buzznet gets to use UMG's catalog for some streaming music and video action, as well as editorial content from Universal-signed artists cum guest bloggers. (Holy shit, right? Imagine the insights and life wisdom that Beck and Chamillionaire will be able to drop!) In return, UMG gets an equity stake in the company and the opportunity to disseminate the Pussycat Dolls' views on Iraq.

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