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Google’s youtube and Universal Music Group (UMG) have reached an agreement to launch a new site called Vevo.As the official youtube says that Vevo, a music and video entertainment hub that will feature UMG’s premium video content.What will served by vevo? They say that They will provide the technology infrastructure that will power VEVO and host UMG’s extensive library of professionally-created music videos on the new site. This content will be exclusively available through VEVO.com and a new VEVO channel on YouTube through a special VEVO branded embedded player. This site will be launch later this year.