Apple has deals with major record labels for a cloud music service

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Apple is also said to be near agreement with music publishers for its iCloud service. Under the deals, Apple would keep 18% of the revenue, the labels will get 70% and music publishers will get 12%. Apple Inc. has sewn up contracts with the four major record labels Thursday for a cloud music service, with agreements from music publishers to follow Friday, according to sources familiar with the ...

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