Apple has reportedly intensified talks with major music labels to start an advertising supported streaming-radio service by early next year.
There have been on-going rumours that Apple's been in negotiations with major rights holders to obtain music licenses for the service since September.
But, despite no mention of a radio service at their press conference for the unveiling of the new iPad mini and iPad, Bloomberg sources say that a deal could be reached by mid-November, with Apple starting the service in the first three months of 2013.
Following the report, potential competitor Pandora's stock sunk nearly 12% in after-hours trading after Thursday (October 25).
Source: Billboard
Advertisement
