Google is reportedly working on an MP3 store and is in negotiations with major record labels.
Google will open the store in the next few weeks and likely will be connected to Google's cloud service, Music Beta, according to the New York Times. The new service allows people to place their songs in the cloud and stream them to handhelds or other devices. However, Google declined to comment on the report.
The Times also declined to name the record executives who "spoke on condition of anonymity." Google is likely battling Apple's cloud music program, iTunes Match, which is expected to be launched within the next two weeks. But can Google close all those record deals by the end of the month?
Supposedly, executives are most concerned about Internet piracy, but we think it may also be about profits, too.
There could be some tie-in or the new MP3 store with Google+ or the new Android Ice Cream Sandwich, but as of right now, we can only report that this is an unsubstantiated rumor.