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Facebook ready to pay hundreds of millions of dollars for music rights: report

Facebook Inc. is looking for a way to allow its users to use copyrighted music in videos they post, and is reportedly offering hundreds of millions of dollars to music labels to get a deal done.

Bloomberg News reported Tuesday that Facebook FB, -0.76% has been negotiating for months with record labels and music producers. Both sides are said to be eager to come to an agreement — Facebook, so it doesn’t have to bother taking down videos that infringe on copyrights and deal with the legal issues, and the music industry so that it gets some form of payment.

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