Apple is preparing to disclose its iTunes Store will soon start carrying music by the Beatles, according to people familiar with the situation, a move that would fill a glaring gap in its digital collection.

TECHNOLOGY NOVEMBER 15, 2010

Apple Finally Snares Beatles

By ETHAN SMITH

Steve Jobs is nearing the end of his long and winding pursuit of the Beatles catalog.

Apple Inc. is preparing to disclose that its iTunes Store will soon start carrying music by the Beatles, according to people familiar with the situation, a move that would fill a glaring gap in the collection of the world's largest music retailer.
The deal resulted from talks that were taking place as recently as last week among executives of Apple, representatives of the Beatles and their record label, EMI Group Ltd., according to these people. These people cautioned that Apple could change plans at the last minute.
Spokesmen for Apple and EMI declined to comment.
Apple on Monday posted a notice on the home page of its iTunes Store that it would make "an exciting announcement" Tuesday morning.
Terms of the deal that brought the Beatles music to iTunes couldn't be learned, and it was unclear whether other online music services would gain access to the catalog too. However, Apple maintains a roughly 90% market share in the online music business.
EMI has been under financial strain following an ill-timed leveraged buyout by Terra Firma Capital Partners LP in 2007. If the iTunes tie-up generates significant cash advances or sales, it could delay breaches in the company's loan covenants. Terra Firma borrowed