Report: Apple Launching Online Radio

The Apple tree is growing yet another new branch. Bloomberg News is reporting the company is in advanced talks with major music labels to launch an online radio service to rival Pandora. Should all go well, Apple addicts could be grooving to ad-supported Taylor Swift stations within the first three months of 2013. In order to one-up Pandora, Apple is seeking licensing agreements with labels that would forgo requirements about how often users can skip tracks or listen to a particular artist in an hour. The company is also working on deals that would allow it to access new releases sooner. Their strategy seems to be working already—Pandora stock slid Thursday after the report was published.