Apple will pay up to $150 million in advance royalties to the four major labels for iCloud music rights, according to a published report.
The maker of iTunes has agreed to pay each of the top record companies between $25 million and $50 million each in advance royalties, the New York Post reported today.
The report, however, has been disputed by a source with knowledge of the talks, who told CNET that Apple is not making any advanced payments.
Earlier this week, Apple announced that it will unveil at its Worldwide Developer Conference next week a new service called iCloud. … Read more