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Video site Vevo close to signing EMI

Vevo, a site scheduled to launch Tuesday that hopes to become the MTV for the next generation, continues to sign licensing deals with the top labels.

Executives of online music video service Vevo are close to finalizing an agreement that will bring content to the site from EMI, the smallest of the four top recording companies and the label of Coldplay, Katie Perry, and Norah Jones.

EMI's New York headquarters. Greg Sandoval/CNET

The deal between Vevo and EMI could be announced at any time, sources familiar with talks told CNET.

"EMI is in discussions with Vevo," EMI spokeswoman Jeanne Meyer acknowledged, though she declined to disclose the current stage of the talks.

Scheduled to launch on Tuesday, Vevo will soon be able to offer music videos and other content from three of the four top labels: Universal Music Group, Sony Music Entertainment, and EMI.

The only major record company not partnering with the venture is Warner Music Group. Sources said talks between Warner and Vevo continue.

Universal Music founded the service earlier this year, aiming to cash in more on the popularity of music videos. At YouTube, which is powering back-end operations for Vevo, Universal's videos have accumulated the most views of any YouTube channel.

Universal has long wanted a standalone site to showcase video content, which includes traditional video but may also include other video content produced by artists.

Of YouTube's 25 all-time most watched videos, 14 are music videos. EMI recently signed a video-licensing deal with Hulu.