iLounge

Apple is closing in on deals which would give it the music publishing rights necessary to launch its anticipated cloud music service, according to a new report. Citing two sources with knowledge of the talks, Cnet reports that negotiations between Apple and music publishers began in earnest recently, but that the amount of money separating the two sides is relatively small. Despite the seemingly small monetary gap between the two, the report notes that cloud services are new, and thus there is no precedent for how to license them. On the label side, Apple has reportedly signed license agreements with EMI Music, Warner Music, and Sony Music; a deal with Universal Music, the final holdout of the largest four labels, could come as soon as this week, according to the report.