Andre Yoskowitz
7 Sep 2012 17:27
According to the WSJ, Apple is preparing to launch a streaming radio service similar to that of market leader Pandora.
Allegedly, the company is in talks with the music labels to get licensing agreements for the service.
As with all new Apple products, the service would work on all Macs and iOS devices and will likely work via Windows desktops, as well. The report says Microsoft and Android will be left out in the mobile market, however.
Pandora's stock collapsed 17 percent on the report, taking its market value from around $2 billion to about $1.75 billion.
If Apple is serious about such a service, it could certainly afford to buy Pandora outright, as the company still have $117 billion in cash.