Apple wanted to have a music streaming service built into the iPhone 5 but had to abandon the plan after licensing talks with Sony/ATV broke down last minute.

Sony/ATV and Apple couldn’t agree on a per-song rights fee for the proposed streaming service, according to New York Post sources close to the situation.

Sony/ATV recently acquired EMI Music Publishing, with assets include a catalogue of over 1.3 million music copyrights spanning a multitude all genres across the globe making up ...