Apple is getting closer to rolling out its free Internet radio service.
The company has reached a licensing deal with the world’s largest music label, Universal Music Group, according to people familiar with the situation. Apple is still in deep negotiations with Warner Music Group on some specifics. It also still needs an agreement with Sony Music, which has been tougher for Apple to get on board.
Apple spokesperson Tom Neumayr declined to comment.
The deal with Universal, which the Financial Times reported Thursday, could become very lucrative.
After much back and forth about the terms, the deal reached with Universal — and the one on the table with Warner Music — could prove far sweeter for the music labels than what they get from Pandora, the service that closest resembles what Apple is building, sources say.