Report: Apple negotiating for unlimited music downloads

MobileMe's expected refresh was notably absent from Apple's event Wednesday announcing the debut of the iPad 2, however Cupertino may be working behind the scenes to make a revamp of the cloud service part of a larger push towards streaming content.

Sources have told Bloomberg that Apple is currently in negotiations with several record labels including Universal, Sony, Warner, and EMI with hopes that an agreement could be reached by midyear. Apple wants the labels to allow unlimited access to their content across multiple devices.

It's not exactly clear what Apple may be angling for: on one hand, unlimited access could portend the creation of the long-rumored subscription service. Yet on the other hand, Apple may simply be looking for the right to allow streaming of already purchased music to other devices.

Bloomberg says its sources believe Apple is looking for something much simpler: anytime access to purchased music if a track is lost or damaged. In the same token, the deal would also allow for downloads to multiple devices. This may not be entirely accurate, however: users are already permitted to sync tracks with up to five devices through iTunes already.

The company could also be looking at making whatever offering it plans with unlimited access to iTunes content as part of its MobileMe refresh. The Wall Street Journal recently reported that Apple was looking into making the cloud service free, and turn it into a locker for digital content accessible from a range of devices.