Microsoft (MSFT) has big plans for its recently-announced Xbox Music service, Bloomberg reports....

|About: Microsoft Corporation (MSFT)|By:, SA News Editor

Microsoft (MSFT) has big plans for its recently-announced Xbox Music service, Bloomberg reports. Steve Ballmer & co. plan to offer both a Spotify-like subsription streaming service and iTunes-like downloads and cloud storage, while providing access via the Xbox, PCs, and Windows Phone devices. However, it's added negotiations with music studios are in the early stages. (iTunes overhaul)