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Universal Jumps on Apple's iCloud

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    NEWSLETTERS

    AP
    Apple Inc. Chairman and CEO Steve Jobs speaks at an Apple event at the Yerba Buena Center for the Arts Theater in San Francisco, Wednesday, March 2, 2011. (AP Photo/Jeff Chiu)

    Now that we know how much it will cost to ride Apple's cloud, Steve Jobs finally has confirmation that the last of the big four record labels is on board.

    Universal has signed up to be part of Apple's yet-to-be officially announced iCloud service that is expected to be announced next week.

    The latest edition means that Apple will be able to offer music on its new service from artists on the four major record labels in this country.

    CNet reports that the deal will be similarly structured for all four companies. The labels will get 58 percent,  publishers will receive 12 percent and Apple will take 30 percent of the pie.

    An iCloud subscription is reported to be at $25 a year.