Vevo's vision was further validated with news last week that Abu Dhabi Media Co. joined as a founding shareholder. "The amount of the investment by ADMC, which is owned by the government of the United Arab Emirates, was not disclosed but Wall Street Journal-owned blog MediaMemo said it valued VEVO at $300 million" the AFP reported. AT&T's participation also highlights the growing importance video has to the telecom provider.
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