CNET is reporting that both sides "have managed to reach terms on most of the major issues" relating to licensing terms and rates. Warner pulled its content from the site at the end of 2008, arguing that it was not being adequately financially compensated for its use.

This comes after the PRS reached settlement with YouTube earlier in the month, signing a new deal that carries through to 2012.

Neamwhile, MySpace is looking to extend its reach in online video ...