Apple Inc. closer to a deal with major music labels

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As per reports,? Apple Inc. is close to securing deals with several major recording companies on a music service that will allow users to stream songs stored on remote computer servers, presumably to an array of portable Apple-made devices. Such a service would give users a wide array of music on-the-go, without having to worry about limited storage space and the need to physically connect different devices to transfer songs.

The cloud music service is likely to be unveiled at Apple’s annual developers’ conference on June 6 in San Francisco. Agreements with the units of the recording companies that collect song writing royalties have not yet been completed but are expected to be finalized soon.

Universal Music Group, a division of Vivendi SA, is about to sign a deal that will give Apple the right to stream songs to its customers, although how exactly the service will function is unclear.

Bloomberg earlier reported that Apple had reached agreements with Sony, EMI and Warner and that Universal was close to a deal.

Over the last two months, Amazon.com Inc. and Google Inc. have both unveiled cloud music plans but neither had secured deals with the recording companies.

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