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Rumor: Apple negotiating with content providers, could launch streaming radio service this summer

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There could be some nifty stuff coming down the pipe this summer.

Per CNET, Apple is working to strike deals with both the Warner and Universal Music groups within the week to help add content to its upcoming streaming radio service. Sony would still be one of the major holdouts.

Apple could sign deals with both Warner Music and Universal Music Group within the next week, according to the sources. Both sources cautioned that the deals have not yet been made and could still fall apart. In addition, Apple still needs to get Sony Music Group on board, as well as the music publishers. Even so, Apple has told the labels it’s determined to get all its deals signed in time for a summer rollout. In addition to the U.S., Apple is hoping to quickly unveil the service in up to a dozen territories, according to sources, including the U.K, France, Germany, Australia, and Japan.

While recent reports have pinned the service’s launch for late 2013, CNET said Apple still wants to have a summer launch take place.

The report indicated that Apple is working on functionality such as quick-button-based access to restart a song and new payment terms for record labels. It also alluded to the upcoming service being more Pandora-like than Rdio, suggesting true, radio-like randomization versus play-on-demand audio content.

Stay tuned for additional details as they become available.