Apple has cut a licensing deal with Universal Music Group according to the latest report published by CNET. This will enable Apple’s iCloud music store to offer songs from the largest of the four top record companies. It is widely believed that Apple has now signed deals with all the top four record companies as well as major music publishers, giving Apple’s iCloud streaming service a major head start.

The Cupertino outfit on Tuesday announced that it would unveil the highly anticipated cloud based service called iCloud on June 6 at its Worldwide Developers Conference (WWDC) in San Francisco. However, Apple did not mention whether iCloud will have any music streaming features or any aspects of the rumored TV shows and movies.

Sources at CNET have reported that revenue from iCloud song sales will be split, where the labels will get 58 percent, and publishers will receive 12 percent. Apple will take 30 percent as they do with all other services they currently offer. The sources also reported that streaming will not be available on Monday but will be offered soon and that the Apple digital locker will store only music purchased from iTunes in the beginning.

Apple is said to have plans to store songs purchased from outside iTunes sometime in the future, perhaps after Apple solidifies it’s servers and expands the North Carolina data center.

Apple has started decorating the Moscone West conference center in San Francisco as it does before every event, and even went a step further by setting up a banner of the “iCloud” service in clear daylight. The picture above, which appears to have been taken by someone looking into the conference center, shows the words ‘iCloud’ in Apple’s classic font, and what appears to be the iCloud logo.

Apple has announced that it will be discussing iOS 5, Mac OS X Lion and iCloud at next week’s Worldwide Developers Conference (WWDC). Apple’s CEO Steve Jobs will be making an appearance in order to deliver the keynote presentation on Monday, June 6th at 10AM PST.

Apple has been wrapping up deals with music labels and publishers to allow users to stream purchased music to their computers and other devices through the service, which will likely be integrated into iOS 5 and Mac OS X Lion. Apple is all about integration, taking one service and assimilating it into all of their products (eg. iBooks). AppleInsider released a clearer shot of the banner (seen below), highlighting iOS 5, iCloud and Mac OS X Lion.

It’s increasingly becoming clear that iPhone 5 / 4S won’t be a part of this years conference. However, if Apple restricts iOS 5 to just iPhone 4 and drops support for iPhone 3GS then we can be sure that fifth gen iPhone could be available in September during the annual music event.

Apple on Wednesday took ownership of the domain “iCloud.com”. The domain name was earlier believed to be obtained by Apple Inc., however, now Apple has already confirmed that they will be announcing their upcoming cloud based services during WWDC keynote presentation.

iCloud.com was rumoured to have been sold to the Cupertino outfit for $4.5 million.

This change in ownership now gives Apple complete control over the domain name and will be able to redirect it to Apple.com and other internal pages. Currently, iCloud.com redirects to Xcerion’s own service that has been renamed to CloudMe.com. Apple is now listed as admin contact for iCloud.org as well, possibly claiming any domains related to their streaming service, so as not to cause any diluting of it’s brand and service prior to trademark which is already underway.

Apple has already confirmed that its cloud based services called “iCloud” will be introduced at WWDC 2011, alongside a preview for Mac OS X Lion and iOS 5. Apple is expected to reveal iCloud as a subscription based service integrated into it’s mobile and desktop software, which could be the reason behind the announcement being made during an event where Apple will discussing only software related updates. Until Apple’s WWDC announcements on Monday, stay tuned, we’ll keep you in the loop.