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According to a new report on Bloomberg, Microsoft is in the final stages of preparing its online streaming music service dubbed Xbox Music, a service, according to sources in the know, marries the best of iTunes and Spotify into one package while offering its own new features.
Xbox Music, announced at E32012, will see a launch later this year but despite being close to launch, the Bloomberg report claims Microsoft is still hammering away deals with the major music firms.
Currently, MS is in talks with the following:
– Universal Music Group
– Warner Music Group,
– Sony Corp’s music Division
– EMI
To make money, Microsoft will charge monthly and annual subscription fees similar to competitor Spotify, and there’ll also be straight sales, much similar to Apple’s iTunes offering.
More through the Bloomberg link up top.
