The reports and rumors surrounding the Monday unveiling of Apple's highly anticipated iCloud music service has reached a fever pitch. One of the most heavily reported stories focused on an advanced payment of $150 million that Apple has paid out to the major music labels in order to get their support for the launch of iCloud. However, Fox Newsis reporting today that, according to a source close to the negotiations, those claims are false.
A New York Post report say Apple has agreed to pay between $25 million to $50 million to each major music company as an incentive to get on board with the iCloud service. FoxNews' source thinks it's all conjecture and says Apple has not paid any music companies, and it doesn't plan to make any such advance payments.
The iCloud service, which will let users stream music from iTunes to their iOS devices, will go up against Google's Music Beta and Amazon's Cloud Drive. According to sources, Apple closed deals with all major music companies on Thursday, something Amazon and Google were unable to accomplish.
[via Fox News]
