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In a released statement, Jobs said the company "has never made any offer to invest or acquire a major music company," though he didn't say outright that Apple wasn't in negotiations with UMG about a potential bid.
POLISHING THE APPLE
Computer Company Announces Q2 Fiscal Results as Speculation Runs Wild Over Possible UMG Acquisition
Can't Steve Jobs make up his mind?

Apple Computer Inc.'s Q2 net profit fell by more than half from a year earlier, as the Cupertino, CA, computer company's boss tried to distance himself from reports he wants to acquire all or part of Universal Music Group from Vivendi Universal.

In a released statement yesterday (reported in our Rumor Mill), Jobs said the company "has never made any offer to invest or acquire a major music company," though he didn't say outright that Apple wasn't in negotiations with UMG about a potential bid.

Apple's stock has declined about 8% from its $14.37 close last Thursday, trading Wednesday at $13.24, as investors questioned the rationale for a deal.

Meanwhile, the company reported net income of $14 million, or four cents a share, for its second quarter ended 3/29. It was Apple's first profit after two consecutive quarterly net losses, but the result was down 65% compared with a net of $40 million, or 11 cents a share, a year earlier. Apple generated revenue of $1.48 billion for the quarter, down 1.3% from $1.5 billion a year earlier and slightly below analyst predictions of $1.5 billion.

Analysts said the results and outlook showed that while its business is holding up, a pickup isn't expected, even though the company is about to announce the roll-out of an online-music service for Mac and iPod users.

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