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The agreements came after months of bargaining, and were a defeat for music companies that had been pushing for a variable pricing model.

The music industry’s big four - Universal, Warner Music, EMI and Sony BMG – were not immediately available to comment.

Since iTunes’ launch three years ago, Apple has charged US consumers 99 cents for each track – a uniform price that Steve Jobs, its chief executive, favours because of its simplicity for consumers. More...

Credit: FT.com