This post was updated at 6:49 a.m. Pacific time to add comment from Facebook.
Facebook may be getting closer to launching a music service that competes with Apple's iTunes, the Financial Times reported Wednesday.
Sources told the publication that Facebook has been approaching major record labels about licensing deals so that it can sell music through its Web site.
It's a long-standing rumor that has once again floated to the surface of social-media chatter.
Music sales would provide Facebook with an alternative revenue stream--the site currently relies on advertising, which many have said is precarious for … Read more