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A VERY GOOD IDEA: Although Morris doesn’t play an operational role with VEVO, which is run by Rio Caraeff, he remains extremely interested in its evolution, having conceived the idea after seeing his grandson watching a music video on Yahoo five years ago. At the time he headed UMG, which was partnered in the venture by his current company, Sony Music, as well as Abu Dhabi Media. When he learned that the labels and their acts weren’t getting paid for the clips, even though hosting sites like Yahoo and YouTube collected ad revenue around this content, he decided to do something about it, not wanting to repeat the mistake the labels had made with MTV in the early ’80s, and VEVO was born. The company is now valued at between $800 million and $1 billion. Last week, VEVO signed a contract with Allen & Co. to help it raise $100 million to expand overseas. (7/12a)