Amazon planning to launch online music store

ABC News claims Amazon is planning to offer a new digital-music service, enabling its users to buy online songs just like Apple's iTunes, Napster and Real's Rhapsody.

According to Wall Street Journal to online store has held talks with record-label executives in the past two weeks about licensing music.

Citing people familiar with the discussions, the Journal says Amazon is talking about a music offering that would include options such as song-by-song downloads and a monthly subscription service. The expectation is that Amazon wants the service online later this year.