Apple to standardize iTunes pricing across Europe

Apple announced that within the next six months it will lower download fees on its U.K. iTunes storefront to match standardized pricing across its other European iTunes sites, threatening to "reconsider" its continuing relationship with any British record label that does not lower its wholesale prices. According to Apple, at present it must pay some labels more to distribute their music in the U.K. than it pays to distribute the same content across 16 European markets including Germany, France, Italy and Spain. "This is an important step towards a pan-European marketplace for music," said Apple CEO Steve Jobs in a prepared statement. "We hope every major record label will take a pan-European view of pricing."

For more on Apple's price reductions:
- read this release

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