Apple Secures Warner Music Streaming Rights

Apple is inching closer to a new streaming music service for iTunes, according to people familiar with the matter.

On Sunday Apple inked a licensing deal with Warner Music Group for the rights to its recorded music and music publishing, agreeing to terms on the publishing side that other major music publishers have been seeking, according to people familiar with the matter.

Under the deal, Apple will give Warner Music Group’s publishing arm 10 percent of ad revenue — more than twice what Internet radio giant Pandora Media — pays major music publishers. Warner’s terms with Apple could pave the way for other major publishing deals to follow.

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