Rumor:Apple to purchase Universal record label

Some of you may have seen sporadic reports (mostly coming from the L.A. Times) that Apple is in the process of coming out with an online music service this month, along with the long-awaited update to iTunes and the new versions of the iPod.

Today, an article on MacCentral is pointing to a new article in the L.A. Times that indicates Apple may be launching a $6B bid for Universal's recording arm.

Of course, this brings to mind the question of the name "Apple Records". Remembering back to the early days of Apple, there has been a rumor that Apple licensed the use of the name from the Beetles, whose record label was "Apple Records".