Apple's Pandora-Killing iRadio Is 'Nowhere Near To Being Completed'

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Apple’s next product is expected to be a Pandora-esque streaming radio service.

When Bloomberg reported iRadio (as we’ll call it) was coming, Pandora’s stock collapsed.

Well here’s some good news for Pandora investors. (And after yesterday’s terrible earnings report, you people need any good news you can get.)

Greg Sandoval at CNET reports Apple’s negotiations with labels for a streaming service are “nowhere near to being completed.” Further, Apple’s offer to the major labels is leaving them  “cold,” says Sandoval.

Even if Apple upped its offer, Sandoval says it will take a while for the deals to be sorted out. It will be a while before Apple offers streaming radio.

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