Music in Apple Lossless format coming to iTunes Music Store?

An updated version of Apple’s music encoding software for record labels suggests that the iTunes Music Store could soon offer tracks in the Apple Lossless format. According to an AppleInsider report, a note accompanying the iTunes Producer 1.4 update released this week said the application “now encodes music in Apple Lossless format, which produces larger audio files and will increase upload time.” The Apple Lossless format, which the company says offers CD-quality sound in “about half the storage space,” has been supported in iTunes since version 4.5. iTunes Producer is provided to record labels for encoding and submitting their music for inclusion on the iTunes Music Store. Songs sold on iTunes are currently only available in the Advanced Audio Coding (AAC) format.