Apple Reaches Deal with Sony Over Cloud Music

Bloomberg reported last night Apple has reached a deal with Sony Music Entertainment, following reports that the company managed to sign the Warner Music Group and EMI. This leaves Universal, the biggest label of all four in the United States, out of the equation, but according to the rumors Apple is actively focused on closing all the remaining paperwork with music labels by next week.

Apple has reached licensing accords with Sony Corp. (6758)’s music division, EMI Group and Warner Music Group, the people said. Universal Music Group, the largest recording company, is close to a deal, another person said. The company also would need to reach agreements with music publishers, which control different rights than the labels.