News that Universal will not be renewing its long-term contract with Apple to sell music via iTunes may have lead some Universal artists to look elsewhere for management, and they may be looking to Apple, reports indicate.

Reports are emerging that Apple may form its own label with acts such as Jay-Z and Beyonce.

However, given the legal situation between Apple and Apple Corps (the Beatles music label) it seems unlikely that Apple could make such a move.

Last year a judge ruled that Apple was not acting like a record label in a court case with the Beatles label. An earlier agreement between the two companies states that Apple can use the name Apple as long as the businesses of both organisations remain fundamentally different.