YouTube and Universal Music Group in talks

YouTube and Universal Music Group are in talks, according to the Chicago Tribune, to launch a music video service that's being compared to TV/movie site Hulu.

YouTube would likely be used a destination for music videos by Universal's artists, a catalog which includes the likes of Fall Out Boy, Brand New, Thursday, Thrice and many more.

"We are always working with our partners to find creative ways to connect music, musicians and fans," said YouTube spokesman Chris Dale.