Google is holding a music event later today in the US, and reports suggest that its long-trailed music downloads store will be the key announcement. Negotiations with rightsholders have been going down to the wire, but a report by Bloomberg claims that Google has secured three major label deals: Universal Music Group, EMI and Sony Music Entertainment, meaning that Warner Music Group would be the only major missing at launch.

There’s no news on publishing deals or independent labels. As previously reported, the store is expected to sell songs for around $1, with Amazon-style discounting for some albums, and possibly features allowing users of the Google+ social network to listen to one another’s purchased tracks.

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