Apple Finally Signs Universal Music To iCloud

Finally Apple has gotten Universal on board with their iCloud music services. Universal music was the last of the major labels to be signed and it took quite a while too. Word on the street is that apparently each label was paid $50 million for the deal with Apple. Either way now that Universal has been signed, a couple of the major publishers have also come on board, it looks like Apple’s iCloud service is on track to being launched, seems like just in time as WWDC is just around the corner.

CNet reports that labels will get 58%, publishers 12%, while Apple retains 30%. Seems like a pretty good deal, I wonder how Google Music is doing with their licenses?