Drudge: Universal Music will not renew iTunes contract

The Drudge Report has posted a newsflash claiming that Universal Music Group will not renew its annual iTunes contract. So what's going on? Hard negotiations? The recent EMI/iTunes Plus deal? Or maybe UMG just doesn't like earning a ton of money through iTunes? I'm not all that familiar with the Drudge Report and since no sources are cited I suspect this "flash" should be taken with a rather large grain of salt.

Thanks to everyone who sent this in.

Update: Pretty much confirmed by WSJ--Thanks Charles

This article was originally published on Tuaw.