Cupertino has been rumored since September to be planning the launch of a Pandora-like online radio service.
Reports stated that Apple tried to sign deals with major music companies, such as Sony Music Entertainment, Universal Music Group and Warner Music Group.
A Bloomberg report noted that the service was set for launch in the first three months of 2013.
CNET’s Greg Sandoval writes that Apple’s negotiations with the labels are “nowhere near to being completed.”
“Even if Apple sweetens its offer or the big labels change their mind tomorrow, these deals take a while to put to bed,” Sandoval writes. “Even in the best case scenario, it will still be a while before we see iRadio.”