Apple Working On Unlimited Usage Of Downloands (AAPL, VIV, C, WMG, SNE)
Apple Inc. (NASDAQ: AAPL) is in talks with the various record companies so that iTunes customers will have easier access to purchased music across a variety of devices.
The Cupertino, Calif.-based company is in talks with Vivendi SA (NYSE: VIV)'s Universal Music Group, Sony Music Entertainment (NYSE: SNE), Warner Music Group Corp. (NYSE: WMG) and EMI Group Ltd. (NYSE: C), according to anonymous sources. These sources said a deal may be struck by the middle of 2011.
The deal is being done to better compete with companies such as Pandora, which do not sell music, and let users stream from the Internet on multiple devices. Pandora recently a $100 million IPO.
In addition to being able to use multiple devices, iTunes users would have a permanent backup, should the original versions be damaged in any way.
Spokesmen from Apple, Warner Music, Sony Music declined to comment on the story.
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