|Apple is nowhere close to completing a deal with the major record labels for a music streaming service, say music industry sources contacted by CNET. The people say that the terms Apple has been offering for the service, nicknamed "iRadio," have left the labels -- Sony, Warner, and Universal -- unsatisfied. It's believed that even if one side or the other changes its position, it could take a long time to complete agreements.
Some sort of music streaming service from Apple has been rumored for years. Although reports have repeatedly put Apple in talks with record labels, follow-ups have also indicated no progress. Speculation has often suggested that the labels want to avoid repeating the experience of the iTunes Store, which gave Apple control over most digital music sales while driving down prices.
The closest Apple has coming to a streaming service is iTunes Match. Subscribers can access music via iCloud, but only if they already own the content in question.