Report: Apple music streaming nixed over royalties

Apple planned to build its own Pandora-style music streaming service—allegedly as a new iPhone 5 feature—until talks with the world’s largest music publisher Sony/ATV reached a late impasse, according to the New York Post. The two companies couldn’t agree on a per-song rights fee, sources said, dashing the possible deal. While those rights are normally a tenth of a penny per stream, Sony/ATV sought a higher rate from Apple. According to the report, Sony/ATV is also reportedly set to leave the ASCAP and BMI copyright associations, throwing a wrench into future negotiations with other services over streaming rights. [via CNET]