According to a story in the Financial Times, Apple (AAPL) would charge enough for iPod and iPhone devices to cover the cost of licensing entire music collections. It would use that premium to create a pool of revenue, a portion of which would be divided among the major music labels, the newspaper said.
Trouble is, no such talks are under way, according to people familiar with Apple's plans. An Apple spokesperson declined to comment. Insiders at major music labels were similarly dismissive. One person familiar with the matter said the idea of subscription plan has been "kicked around" for about a year, but said there have been "no meaningful discussions" on the subject.