iRadio coming this summer?

iRADIO NEARLY AN iREALITY? Apple is within a week of striking a streaming deal with UMG and Warner Music that could end up far more lucrative for the music biz than what the labels currently get from Pandora, two people familiar with the negotiations told CNET News. But the company has yet to get Sony Music and the publishers on board, the sources cautioned. Even so, Apple has told the labels it's determined to get all its deals signed in time for a summer rollout in up to a dozen territories. Much has been made in recent weeks of Apple trying to squeeze the labels on terms, and the deals do have Apple paying the labels a per-stream rate that's half of what Pandora pays. But CNET’s sources say Apple's planned music service would offer new revenue streams, including a quick way for consumers to buy a song they hear, potentially boosting download sales from iTunes, as well as a revenue share of new audio ads Apple is planning to add to the free service. Though the press has dubbed the service iRadio, Apple is referring to it simply as its "new streaming service," says a source. Though it doesn't offer on-demand listening, the service will reportedly boast some unique features, such as the ability to jump back to the beginning of a track. (4/5a)

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