Apple Signs Cloud-Music Licensing Deal With EMI, CNET Reports

Apple Inc. (AAPL) signed a cloud-music licensing deal with EMI Group Ltd. and is close to completing agreements with Universal Music Group and Sony Music Entertainment, CNET reported, citing multiple music industry officials it didn’t identify.

Universal and Sony agreements may be signed as early as next week, the website reported. Combined with an earlier deal with Warner Music Group Corp. (WMG), Apple will have contracts with each of the top four record companies ahead of its June 6 developers’ conference, CNET said.

The licensing agreements will allow Apple to provide a licensed cloud-music service that will compete with Amazon Corp. and Google Inc. offerings, according to the report.

To contact the reporter on this story: Tim Culpan in Taipei at tculpan1@bloomberg.net.

To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net.

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