With the new iTunes in the Cloud service, users can re-download all applications that were once purchased, including software that is no longer publicly available on the App Store.

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Apple this week quickly issued an update for its new iTunes in the Cloud beta, with version 10.3.1 of the media software issued over Software Update with no additional accompanying information.

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On the heels of the unveiling of the new iCloud service, Apple has indicated that current MobileMe subscribers will receive a free extension until June 30, 2012, at which point the service will be shuttered.

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Just moments after Apple announced its new iCloud service, the company's iOS App Store and iTunes Store were dynamically updated with a new "Purchased" tab for re-downloading software and content, and iTunes 10.3 was released for Mac and PC.

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Apple's new iTunes Match service will scan a user's library of songs, including those ripped from their own CDs, and match the songs up with the library of 18 million songs available through iTunes for $24.99 per year.

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Apple's forthcoming cloud-based service could replace iTunes' syncing functionality, according to an unverified report.

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Hints at an upcoming Automatic Download feature for iOS apps have emerged in iTunes, according to a new report.

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In order to get the major record labels onboard with its forthcoming iCloud service, Apple could fork over as much as $150 million in "advanced payments."

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Music industry insiders allege that Apple's forthcoming iCloud service will have an initial free period for iTunes Music Store customers, but the company plans to eventually charge a $25 a year subscription fee.

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Apple has signed a licensing deal with Universal Music Group, incorporating all four of the major record companies into its iTunes iCloud music plans.

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After Apple tipped its hand on Tuesday and revealed it will unveil its new iCloud service next week, Wall Street analysts believe the company has set the stage for a strong software-focused Worldwide Developers Conference keynote.

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In addition to agreements with music labels, Apple is also said to be pursuing licensing deals with movie and TV studios that would allow users to remotely store and stream copyrighted video content via the forthcoming iCloud service.

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Sources allege that the much-rumored streaming music service from Apple will scan users' iTunes libraries and mirror them in the cloud, but it reportedly won't be free.

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Apple is the target of a new patent infringement lawsuit that accuses the iPhone of offering e-commerce services without the proper licensing agreements.

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There is little to separate music publishers and Apple from striking a deal to allow music to be streamed through a new iTunes cloud service, a new report claims.

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Music industry insiders expect that Apple wants to launch, or at least introduce, its anticipated "iCloud" music streaming service in June, though the company must also reach agreements with music publishers.

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Apple has reportedly inked a licensing deal with Sony Corp.'s music division to begin offering the label's catalog in the cloud, leaving Universal Music Group as the last holdout among the major record labels.

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Apple's anticipated cloud-based music streaming service could could offer faster playback of Internet-stored content by syncing just small snippets of songs via iTunes.

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Music industry sources claim that Apple has signed a cloud-music licensing agreement with music label EMI and is "very near" to completing deals with Universal and Sony, according to a new report.

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Apple is said to be quickly building another new data center in Silicon Valley in addition to the massive North Carolina facility set to open any day now, ahead of the anticipated "iCloud" service.

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