Music studios continue to balk at Apple's (AAPL +0.8%) royalty terms for its planned Web radio...

|About: Apple Inc. (AAPL)|By:, SA News Editor

Music studios continue to balk at Apple's (AAPL +0.8%) royalty terms for its planned Web radio service, industry sources tell the NY Post. Whereas Pandora (P +2.8%) pays $0.12 per 100 streamed songs and iHeartRadio $0.22, Apple is said to have made an initial offer of $0.06. Is Apple playing hardball out of a belief the Internet Radio Fairness Act (something apparently on the minds of studios) gives it some leverage? The report could be helping Pandora rally ahead of today's FQ4 report. (previous) Update: The NYT reports stalled licensing talks have led Apple's service to be delayed at least until summer.