Apple’s very own iRadio service, conceived along the lines of Pandora, might finally be ready for launch this year. The new service, which will complement iTunes, is still being fine-tuned. BTIG analyst Richard Greenfield reports that Apple is currently negotiating with music companies to create the song catalogs. Apple had earlier tried to enlist the biggies in the business, such as Sony Music Entertainment, Warner Music Group, and Universal Music Group, though nothing had come out of it then. Seems that all got resolved, and we might be witnessing the launch of the online radio streaming service soon. It is clearly a hugely successful business model, as is evident from streaming companies, such as Spotify, Rdio, and Pandora. Seems they have something to worry about now that Apple is staking a claim in this segment.