Beats Music Will Become Part Of iTunes Next Year

Apple will shut down Beats Music and relaunch it next year under the iTunes brand, according to The Wall Street Journal's Hannah Karp.

Last month, Apple denied rumors that it would be shutting down Beats Music, but it was widely understood that the streaming service would somehow be incorporated into iTunes.

Also related: Apple SVP Eddy Cue has been in talks with record labels to lower the cost of Beats Music, which currently sits at $9.99 per month or $99.99 per year, according to Peter Kafka of Re/code.