Apple Shoots Down Report of Trouble With Universal
iTunes talks with major label said to be ongoing
By M. Morris,  Newser Staff
Posted Jul 3, 2007 11:48 AM CDT

(Newser) – iTunes and the Universal Music group are still at the bargaining table, and reports that the online retainer and the megalabel have changed the terms of their agreement are "just not true," Apple says. The tech giant contradicted a report in yesterday's New York Times, saying through a spokesman that it's "still negotiating with Universal."

Reports that iTunes and Universal would convert their recently expired long-term agreement to more of a pay-as-you-go arrangement raised the possibility that the label could partner with other online services, according to the San Francisco Chronicle, which reported Apple's denial. And they're talking big bucks: iTunes recently became the No. 3 overall music retailer (behind Wal-Mart and Best Buy).