We reported earlier that ERT is going to take part in Eurovision 2012, with a minimum budget needed for their participation. They were searching for record labels who would participate in sharing the total cost, and signed an agreement with Universal Music.
Greece is facing serious financial problems, but despite that, ERT wants to take part in Eurovision in Baku, because it is one of the most popular TV shows in the country. For this reason, they contacted various record labels in Greece and asked them to share the participation cost, which would include the production and recording the song, production of a promo CD, wages for music professionals working on this project, promotions, and flights and accomodations in Baku.
Universal Music Greece accepted the deal, and they shall announce the Greek selection procedure for Baku together with ERT in the upcoming weeks.