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Monday, February 28, 2005, 06:15 am PT (09:15 am ET)

Jobs irate over proposed digital music price hike

"Some leading music labels are in talks with online retailers to "http://news.ft.com/cms/s/3d9b6fee-892d-11d9-b7ed-00000e2511c8.html">raise wholesale prices for digital music downloads in an attempt to capitalise on burgeoning demand for legal online music," the Financial Times is reporting. The move, which aims to secure the record labels a larger stake in the digital music arena, has reportedly left Apple chief executive Steve Jobs fuming. However, around this last year, Apple "http://www.macnn.com/articles/04/05/07/appe.no.itunes.price.hike/">denied similar "http://www.macnn.com/articles/04/05/07/itms.singles.to.cost.more/">rumors published by The NY Post. "These rumors aren't true," Apple spokeswoman Natalie Sequeira said at the time. "We have multiyear agreements with the labels and our prices remain 99 cents a track." This is the second year in a row that talk of digital music price hikes have surfaced around the anniversary of the iTunes Music Store — a period where Apple's contracts with the labels may be up for re-negotiation. The store first launched on April 28, 2003.