The Verge is reporting that Apple is set to strike a licensing deal with Universal Music Group, the largest music label, by next week for its rumored Internet radio service. A deal with Warner Music would follow soon after that, according to The Verge. Last week, it was reported that Apple was close to wrapping a deal up with Universal Music Group and Warner Music, but no immediate time table was given and it was unclear if any side made concessions on royalty rate
