Apple may finally launch its Pandora competitor in 2013

Rumors have once again begun to circulate that suggest Apple (AAPL) is planning to launch an online radio service that will compete with Pandora (P). The Wall Street Journal cited multiple unnamed sources last month claiming that the Cupertino-based company was holding talks with various music labels to offer such a service. The New York Post later reported that Apple and Sony/ATV, the world’s largest music publishing company, could not come to an agreement over licensing fees, however, forcing the music service that was rumored to debut alongside the iPhone 5 to be delayed. Bloomberg is now reporting that talks with major music labels have intensified and a deal could be reached as early as mid-November. Talks are said to be centered around how to share ad revenue and if a deal is reached Apple could launch the service within the first three months of 2013. Shares of music streaming site Pandora fell nearly 15% following the report.