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Facebook, Universal Music strike multi-year deal

(Reuters) – Facebook Inc (FB.O) and Universal Music Group signed a first of its kind agreement to license Universal Music’s recorded music and to publish catalogues for videos across the social media network as well as Instagram and Oculus.

The multi-year agreement would allow Facebook users to upload videos that contain licensed music and personalize their music experiences on Facebook, Instagram and Oculus, Universal Music said.

Reporting by Arjun Panchadar in Bengaluru; Editing by Sriraj Kalluvila

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