Apple Floating Cloud-Based Music Service?

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Now that Apple has confirmed the date of its next “big announcement” for Sept. 1 in San Francisco, the rumor mill has kicked into high gear.

The big question is whether Apple will unveil its long-anticipated cloud-based music service, since it’s easy to assume that the event will feature a music-centric unveiling (thanks to an acoustic guitar featured prominently on the invite).

Based on conversations with multiple label sources, the answer is a solid…maybe.

Word from sources is that there is an ongoing dialog between Apple and music executives at the corporate level of the four major labels about a potential cloud-based streaming service, and we’ve heard that there are some “large hurdles” to get over in that effort.

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