Alan McGee, one of the biggest names in the UK music industry, slammed the existing music industry on his MySpace site last week.

"The whole music business model as we have known it these last 30 years is completely out of date," he writes. "The only people who are on top of the changes are Apple," he adds.

McGee proceeds to ask: "why doesn't Apple buy the whole music business?" He praises the company for its modernist, futuristic approach, and slams the existing music business as "pensionable".

McGee founded Creation Records, and has been instrumental in the careers of legendary artists, including: The Jesus and Mary Chain, Primal Scream, The Pastels, Loft, Teenage Fanclub, and Oasis. He now runs the Poptones label (The Hives), and manages a vast stable of acts, including Dirty Pretty Things.

Despite his power, he doffs a hat to Apple CEO Steve Jobs, who has the music industry in a firm grip. "The majors hate him and he is so far ahead of them," he asserts, calling a future Apple move to sign a major band one day "inevitable".

"They should just buy EMI," he notes, "buy The Beatles and take it from there."

"Jobs should put the majors out of their misery," he urges.

He also showers praise on MySpace, calling it "culturally so big and powerful it dwarfs the music business, but not Apple".

Despite this, in a separate entry he notes MySpace's news that it plans to launch its own digital music operation selling music from the many talented unsigned bands that use the service.

"I think MySpace finally woke up to its own power," he observes.