updated 11:50 pm EDT, Thu April 21, 2011
Launch thought to be imminent
Apple may have signed licensing deals with several major labels to secure necessary rights for the company's upcoming media locker. Earlier reports suggested the cloud-based service lacked significant licensing agreements, however unnamed sources have told All Things Digital that the company already has established deals with at least two of the four primary labels.
All of the recent leaks corroborate reports pointing to a media locker that works as a cloud-based portal for iTunes content. Like Amazon's Cloud Drive service, users would be able to store music in the cloud and play it back from a variety of devices. Unlike Amazon's approach, however, the licensing deals are expected to enable users to access iTunes tracks without requiring the content to be uploaded beforehand.
Although the latest sources claim several of the major labels have yet to finalize deals with Apple, the company is reportedly sending its VP of Internet Services, Eddy Cue, to New York tomorrow to help negotiate. The licensing hurdle is believed to be the only factor that must be overcome before the service is formally launched.