Oct. 26, 2012 at 5:10 PM ET
We've heard rumors that Apple is working on a music streaming service similar to the popular Pandora — which allows users to create virtual radio "stations" which play music similar to a particular song, artist or genre — in the past, but now there's a report claiming that the service will be ready by early 2013.
According to what "people with knowledge of the negotiations" have told the folks at Bloomberg, Apple has "intensified talks with major music labels to start an advertising supported streaming-radio competitor to Pandora." These discussions with music labels are supposedly about how ad revenue would be shared — the service is supposedly going to be ad-supported — and a deal could by made my mid-November, Bloomberg's sources claim.
A previous report by the Wall Street Journal suggested that Apple's new music service will be available on iOS and OS X devices and "possibly" work on Windows-based computers. Bloomberg's sources say that "Apple is looking to create an app tailored for its iPhone, iPad and iPod Touch." The service won't be "won’t be focused on delivering music through a Web browser," they add.
Assuming that Apple and music labels do indeed reach a deal before the year ends, the new music service could launch in the first quarter of 2013, it is suggested.
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