Popular website YouTube has been told to take down hundreds of thousands of videos by record label Warner Music in a row about money.

The two parties failed to reach an agreement at the weekend after the music organisation asked for a larger share of the revenue potential from the site's visitor traffic.

In a statement, Warner said negotiations have broken down and the firm has been left with no choice but to reject the conditions offered by the website.

"We simply cannot accept terms that fail to appropriately and fairly compensate recording artists, songwriters, labels and publishers for the value they provide," the company said.

The label is home to artists including Madonna, rapper T.I and the Red Hot Chili Peppers.

YouTube was founded in 2005 by Steve Chen, Chad Hurley and Jawed Karim who were all former employees of PenPal.

The website was eventually bought by Google for a fee of $1.65 billion, which at the time was equivalent to £883 million.

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written by news desk on 23/12/2008 17:31:02
Photo : Thousands of videos will be taken off the site